Iceland | Tax revenue (% of GDP)

Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Iceland | Tax revenue (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 22.8181417
1973 22.8736844
1974 23.77127281
1975 22.88233219
1976 21.77024549
1977 20.74879635
1978 21.14889515
1979 21.89795822
1980 21.21163947
1981 22.55161853
1982 22.95069194
1983 20.5732603
1984 20.94470805
1985 20.1044476
1986 20.30388989
1987 20.69383402
1988 22.30586447
1989 23.44165487
1990 23.50750725
1991 22.8569209
1992 23.1609552
1993 22.50635057
1994 22.25478828
1995 22.51334735
1996 23.44783663
1997 21.99690358
1998 23.95537868
1999 25.86039431
2000 25.10557259
2001 22.76406737
2002 22.59271182
2003 23.67708233
2004 24.76632097
2005 27.24299312
2006 26.89713758
2007 25.95849178
2008 22.79777458
2009 19.93353865
2010 20.22643799
2011 20.58217743
2012 21.50330708
2013 21.6567855
2014 24.49195998
2015 22.68944412
2016 37.61284979
2017 23.9232132
2018 22.97836107
2019 21.93201342
2020 22.46828679
2021 21.5817595
2022 23.03344693

Iceland | Tax revenue (% of GDP)

Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source