Iceland Tax Agency Announces Individual Wage Withholding Tax Rates for 2022

The Icelandic Directorate of Internal Revenue Jan. 3 announced the individual wage withholding tax rates for 2022. The announcement includes the progressive monthly tax rates of: 1) 31.45 percent on income up to 370,482 Icelandic kronur (US$2,849); 2) 37.95 percent on income between 370,482 kronur and 1.04 million kronur (US$8,000); 3) 46.25 percent income over 1.04 million kronur; and 4) 6 percent for children born in or after 2007 on annual income over 180,000 kronur (US$1,384). [Iceland, Directorate of Internal Revenue, 01/03/22]

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