Iceland vs San Marino
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.
🇸🇲 San Marino — Municipal Taxes (Castelli)
San Marino's 9 castelli (municipalities) levy local property tax supplements and communal fees. San Marino is an enclave within Italy using the euro but maintaining fiscal sovereignty under a Convention with the EU. The income tax (IRPEF) uses a progressive scale. San Marino aims to be a competitive financial jurisdiction while maintaining EU market access — with corporate tax notably lower than neighbouring Italy.
Iceland vs San Marino: Key Tax Differences (2026)
💰 Income Tax: 🇮🇸 Iceland has a higher top income tax rate (~36.94% vs 9–35%). 🇸🇲 San Marino is more favourable for high earners.
🛒 VAT/Sales Tax: Iceland has a higher consumption tax (11–24% vs 17%).
🏢 Corporate Tax: 🇸🇲 San Marino offers a lower corporate rate (17% vs 20%), which can influence business location decisions.
📈 Capital Gains: 🇸🇲 San Marino taxes investment gains at a lower rate (17% vs 22%), benefiting investors.