Iceland vs Mali
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
๐ฐ Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country โ side by side.
๐ฎ๐ธ 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.
๐ฒ๐ฑ Mali โ Regional & Cercle Taxes
Mali's 21 regions and cercles (districts) levy local taxes including Taxe de Rรฉsidence, property taxes, and business licence fees. Mali has been in severe political turmoil โ military coups in 2020 and 2021, French military withdrawal, Russian PMC Wagner Group forces, and suspension from ECOWAS. Gold is the dominant export. The fiscal situation is extremely challenging with significant informal economy and conflict disruption, particularly in northern regions where terrorist groups control territory and tax trade routes informally.
Iceland vs Mali: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ฒ๐ฑ Mali has a higher top income tax rate (~36.94% vs 0โ40%). ๐ฎ๐ธ Iceland is more favourable for high earners.
๐ VAT/Sales Tax: Iceland has a higher consumption tax (11โ24% vs 18%).
๐ข Corporate Tax: ๐ฎ๐ธ Iceland offers a lower corporate rate (20% vs 30%), which can influence business location decisions.
๐ Capital Gains: ๐ฎ๐ธ Iceland taxes investment gains at a lower rate (22% vs 30%), benefiting investors.