This is a simple tax calculator to help calculate salaries after tax in Iceland, in order to see the amount you can actually spend (disposable income).
Default values are from Icelandic ministry of finance for year
2025.
You can change most numbers, in case they have changed and this calculator has not been updated.
Every person also has a tax discount of a fixed number yearly: 824,288 monthly: 68,691
Currently there are 3 tax brackets:
| Monthly Salary: | 368,000 |
| Monthly tax discount: | 68,691 |
| Tax from Step1 | 115,883 |
| Tax from Step2 | 0 |
| Tax from Step3 | 0 |
| Total tax: | 47,192 |
| Salary remain: | 320,808 |
| ~Actual tax percentage: | 12.82% |
Tax % in step 1
Salary threshold
Tax % in step 2
Salary threshold
Tax % in step 3
Salary threshold