Iceland vs Guyana
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
💰 Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country — side by side.
Individual Income Tax (Top Marginal Rate)
VAT / GST / Sales Tax
Corporate Tax Rate
Capital Gains Tax
Social Security & Payroll
🇮🇸 Iceland — 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.
🇬🇾 Guyana — Regional & Municipal Taxes
Guyana's 10 administrative regions and municipalities levy property rates, market fees, and trade licences. Guyana has experienced a dramatic economic transformation since major offshore oil discoveries (Stabroek Block) began production in 2019. GDP growth rates have been among the world's highest (60%+ in 2022). The Natural Resource Fund manages oil revenues for long-term savings. A long-running border dispute with Venezuela over Essequibo affects regional stability but has not stopped oil development.
Iceland vs Guyana: Key Tax Differences (2026)
💰 Income Tax: 🇬🇾 Guyana has a higher top income tax rate (~36.94% vs 28–40%). 🇮🇸 Iceland is more favourable for high earners.
🛒 VAT/Sales Tax: Iceland has a higher consumption tax (11–24% vs 14%).
🏢 Corporate Tax: 🇮🇸 Iceland offers a lower corporate rate (20% vs 40%), which can influence business location decisions.
📈 Capital Gains: 🇬🇾 Guyana taxes investment gains at a lower rate (20% vs 22%), benefiting investors.