Crypto tax in Iceland
22% capital gains tax on crypto profits. No distinction between short and long-term.
- Short-term rate
- 22%
- Long-term rate
- 22%
- Treatment
- Capital gains tax
- Currency
- ISK
How Iceland taxes crypto
Iceland taxes cryptocurrency gains as capital gains at a flat rate of 22%. There is no distinction between short-term and long-term holding periods. All disposals of crypto, including sales, trades, and exchanges, are considered taxable events. Iceland has a relatively high crypto adoption rate per capita, partly driven by abundant geothermal energy that has attracted crypto mining operations. Taxpayers must report all crypto gains in their annual tax return to the Directorate of Internal Revenue (Ríkisskattstjóri).
The same rate applies however long you held.
A 10,000 ISK gain, settled
| Held | Rate | Taken | Kept |
|---|---|---|---|
| Short-term | 22% | 2,200 | 7,800 |
This is the arithmetic the app runs on your device. Real liability depends on your residency, income, allowances and how the authority classifies your activity. Treat it as an estimate and check with a qualified adviser before you act.
Elsewhere in Europe
| Jurisdiction | Short-term | Long-term |
|---|---|---|
| Czechia | 23% | — |
| Georgia | — | — |
| Germany | 45% | — |
| Luxembourg | 42% | — |
| Malta | 35% | — |
| Portugal | 28% | — |
| Switzerland | — | — |
| Turkey | — | — |
Headline rate last checked 31 July 2026 · methodology