Corporate Tax Comparison

Brazil vs Iceland

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

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

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Compare Corporate Tax

Brazil

Iceland

Basic Corporate Tax Comparison

PwC World Tax Summary OECD Statistics

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

Corporate Income Tax (CIT)

Brazil

Iceland

General CIT Rate:

34 (composed of 25% IRPJ and 9% CSLL).

General CIT Rate:

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

CIT Return Due Date:

The last working day of July.

CIT Return Due Date:

31 May

CIT Payment Due Date:

Usually, on the last working day of March of the following year (when calculating IRPJ and CSLL annually), taxpayers can pay taxes within a quota from the last working day of the next month to the end of the quarter, or they can pay taxes in three installments, with the first installment from the next month to the end of the quarter when IRPJ and CSLL are calculated quarterly.

CIT Payment Due Date:

November 1st and December 1st

CIT Estimated Payment Due Date:

Normally monthly instalments, but there is an option of quarterly instalment.

CIT Estimated Payment Due Date:

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

Withholding Tax (WHT)

Brazil

Iceland

Resident Withholding Tax (Dividend/Interest/Royalty):

0 / 15 - 22.5 / N/A

Resident Withholding Tax (Dividend/Interest/Royalty):

22/22/0

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

10 / 15 / 15

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

21/13/22

Value-Added Tax (VAT)

Brazil

Iceland

General VAT Rate:

5% - 30%

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Value-Added Tax (VAT)

General VAT Rate:

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Value-Added Tax (VAT)

Capital Gain Tax (CGT)

Brazil

Iceland

General Capital Gain Tax Rate:

Residents: 34 legal entities (considered as a part of normal income, subject to normal CIT tax rate); non-residents: 15 to 22.5 (WHT); non-residents from tax haven countries: 25 (WHT).

General Capital Gain Tax Rate:

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

Effective Tax Rate (ETR)

Brazil

Iceland

Composite Effective Average Tax Rate:

32%

Composite Effective Average Tax Rate:

18.79%

Composite Effective Marginal Tax Rate:

15%

Composite Effective Marginal Tax Rate:

14.93%

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