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Belarus vs Iceland
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

๐Ÿ‡ง๐Ÿ‡พ Belarus
vs
๐Ÿ‡ฎ๐Ÿ‡ธ Iceland
Tax Year:

๐Ÿ’ฐ Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country โ€” side by side.

Enter your annual income above to see your personal tax comparison โ†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
13%
Flat 13%; EU sanctions continuing to impact
No change
~36.94%
Stable; municipal rates adjusting slightly
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
20%
20% standard
No change
11โ€“24%
Standard 24% maintained; EEA rules apply
No change
Corporate Tax Rate
Corporate Tax Rate
20%
20%; IT park incentives continued
No change
20%
20% stable
No change
Capital Gains Tax
Capital Gains Tax
13%
13% as income
No change
22%
22% capital income rate
No change
Social Security & Payroll
Social Security / Payroll
~40%
FSZN; comprehensive state social system
No change
~14.5%
Pension reform debate; high mandatory rates maintained
No change
State, Regional & Local Taxes

๐Ÿ‡ง๐Ÿ‡พ Belarus โ€” Regional & Local Taxes

Belarus's 6 oblasts and Minsk city have limited independent taxing powers. Local councils set rates for land tax and real estate tax within national parameters. The Ministry of Taxes and Duties administers all national taxes. Belarus operates a largely state-directed economy with close ties to Russia. Under Alexander Lukashenko's government, the tax system has remained relatively simple โ€” flat income tax and corporate rates. Significant economic pressure from Western sanctions following 2020 election crisis.

๐Ÿ‡ฎ๐Ÿ‡ธ Iceland โ€” Municipal Income Tax

Iceland's 69 municipalities set their own local income tax rates, ranging from ~12.44% to ~14.52%, averaging ~14.45%. This is added to the national income tax. The combined effective rate for most earners is about 36.94% (national + municipal). Iceland has no inheritance tax on direct heirs. Real estate transfer tax (stimpilgjald) is 0.8% on property transfers. Iceland is not an EU member but belongs to the EEA, affecting VAT and trade rules.

โš ๏ธ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025โ€“2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

Belarus vs Iceland: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฎ๐Ÿ‡ธ Iceland has a higher top income tax rate (13% vs ~36.94%). ๐Ÿ‡ง๐Ÿ‡พ Belarus is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Iceland has a higher consumption tax (20% vs 11โ€“24%).

๐Ÿข Corporate Tax: Corporate rates are similar in both countries (20% vs 20%).

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ง๐Ÿ‡พ Belarus taxes investment gains at a lower rate (13% vs 22%), benefiting investors.

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