Benchmarking Iceland against all countries
Iceland has the 5th-lowest value-added-tax (VAT) productivity (0.31) of the 49 nations that have a high-income economy. That 0.31 compares to an average of 0.42 and standard deviation of 0.13 across those 49 nations.
Reaching the average of 0.42 would imply an extra 2.90% (absolute) in net VAT collection as a percentage of GDP.
Note: value-added-tax (VAT) productivity =
net VAT collection as a percentage of GDP รท value-added-tax (VAT) rate
Iceland has these standings among those 49 nations:
Note that value-added-tax (VAT) productivity correlates (0.68) with net VAT collection as a percentage of GDP. But on the latter, Iceland (with 7.80%) is higher than the median (7.00%) of those 49 nations.
Reaching the average of 0.42 would imply an extra 2.90% (absolute) in net VAT collection as a percentage of GDP.
Note: value-added-tax (VAT) productivity =
net VAT collection as a percentage of GDP รท value-added-tax (VAT) rate
Iceland has these standings among those 49 nations:
- value-added-tax (VAT) productivity = 0.31 (5th-lowest, tied)
- change over 3 years in value-added-tax (VAT) productivity = -16.0% (7th-lowest)
- net VAT collection as a percentage of GDP = 7.80% (10th-highest, tied)
- value-added-tax (VAT) rate = 25.5% (the highest)
Note that value-added-tax (VAT) productivity correlates (0.68) with net VAT collection as a percentage of GDP. But on the latter, Iceland (with 7.80%) is higher than the median (7.00%) of those 49 nations.
Visualize
Peers
better than Czech Republic (0.24), Trinidad and Tobago (0.27), Spain (0.29), and Ireland (0.30).
tied with Norway (0.31) and Italy (0.31).
trailed Belgium (0.33), Greece (0.36), France (0.36), and Singapore (0.37), and others, ending with Canada (0.82).
15 out of the other 48 nations were ruled out due to missing, unknown, or not-applicable values for value-added-tax (VAT) productivity, e.g., Brunei Darussalam.
tied with Norway (0.31) and Italy (0.31).
trailed Belgium (0.33), Greece (0.36), France (0.36), and Singapore (0.37), and others, ending with Canada (0.82).
References
- income group. Data comes from the USAID Collecting Taxes database (http://catalog.data.gov/dataset/collecting-taxes-database). We use the published dataset from 2012-2013. Changes over time are with respect to the dataset from 2009-2010.
- value-added-tax (VAT) productivity. Higher values are better. Data comes from the USAID Collecting Taxes database (http://catalog.data.gov/dataset/collecting-taxes-database). We use the published dataset from 2012-2013. Changes over time are with respect to the dataset from 2009-2010.