What are the general Corporate Income Tax (CIT) rates in Iceland and Australia?

For Iceland: 20 (for LLCs and limited partnerships); 37.6 (for other entities). For Australia: [color=rgb(69, 69, 69)]30%, with a reduced rate of 25% for small to medium businesses[/color].

When are the Corporate Income Tax (CIT) returns due in Iceland and Australia?

For Iceland: 31 May. For Australia: [color=rgb(70, 70, 70)]15th day of the seventh month following the end of the income year[/color].

When are the Corporate Income Tax (CIT) payments due in Iceland and Australia?

For Iceland: November 1st and December 1st. For Australia: [color=rgb(70, 70, 70)]First day of the sixth month following the end of the income year.[/color].

What are the resident Withholding Tax (WHT) rates in Iceland and Australia?

For Iceland: 22/22/0. For Australia: 0/0/0.

What are the non-resident Withholding Tax (WHT) rates in Iceland and Australia?

For Iceland: 21/13/22. For Australia: 30/10/30.

What are the general VAT rates in Iceland and Australia?

For Iceland: 24. For Australia: 10.

What are the Capital Gain Tax (CGT) rates in Iceland and Australia?

For Iceland: 20 (for corporations, same as CIT rate for LLCs); 22 (for individuals). For Australia: [color=rgb(70, 70, 70)]Capital gains are subject to the normal CIT rate (30%)[/color].

What are the Composite Effective Average Tax Rates in Iceland and Australia?

For Iceland: 18.79%. For Australia: 28.50%.

What are the Composite Effective Marginal Tax Rates in Iceland and Australia?

For Iceland: 14.93%. For Australia: 28.56%.

Corporate Tax Comparison

Iceland vs Australia

Q: When are the Corporate Income Tax (CIT) estimated payments due in Iceland and Australia?

For Iceland: Except for January and October, prepayments should be made on the first day of each month.. For Australia: Monthly or quarterly..

Compare Iceland and Australia corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.

Time of Update — Iceland: 4/04/2026 · Australia: 3/24/2026

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Iceland

Australia

Basic Corporate Tax Comparison

PwC World Tax Summary OECD Statistics

Time of Update — Iceland: 4/04/2026 · Australia: 3/24/2026

Corporate Income Tax (CIT)

Iceland

Australia

General CIT Rate:

20 (for LLCs and limited partnerships); 37.6 (for other entities)

General CIT Rate:

30%, with a reduced rate of 25% for small to medium businesses

CIT Return Due Date:

31 May

CIT Return Due Date:

15th day of the seventh month following the end of the income year

CIT Payment Due Date:

November 1st and December 1st

CIT Payment Due Date:

First day of the sixth month following the end of the income year.

CIT Estimated Payment Due Date:

Except for January and October, prepayments should be made on the first day of each month.

CIT Estimated Payment Due Date:

Monthly or quarterly.

Withholding Tax (WHT)

Iceland

Australia

Resident Withholding Tax (Dividend/Interest/Royalty):

22/22/0

Resident Withholding Tax (Dividend/Interest/Royalty):

0/0/0

None-Resident Withholding Tax (Dividend/Interest/Royalty):

21/13/22

None-Resident Withholding Tax (Dividend/Interest/Royalty):

30/10/30

Value-Added Tax (VAT)

Iceland

Australia

General VAT Rate:

Learn More

Value-Added Tax (VAT)

General VAT Rate:

Learn More

Value-Added Tax (VAT)

Capital Gain Tax (CGT)

Iceland

Australia

General Capital Gain Tax Rate:

20 (for corporations, same as CIT rate for LLCs); 22 (for individuals)

General Capital Gain Tax Rate:

Capital gains are subject to the normal CIT rate (30%)

Effective Tax Rate (ETR)

Iceland

Australia

Composite Effective Average Tax Rate:

18.79%

Composite Effective Average Tax Rate:

28.50%

Composite Effective Marginal Tax Rate:

14.93%

Composite Effective Marginal Tax Rate:

28.56%

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Iceland vs Australia

Corporate Income Tax (CIT)

Withholding Tax (WHT)

Value-Added Tax (VAT)

Capital Gain Tax (CGT)

Effective Tax Rate (ETR)

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