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This policy profile is part of the Education Policy Outlook series, which presents comparative analysis of education policies and reforms across OECD countries.
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Iceland is ranked 22nd among the 34 OECD member countries in decreasing order with a tax wedge for an average single worker at 34.0% in 2015, compared with the OECD average of 35.9%. The country occupied the same position in 2014
The tax burden on labour income is expressed by the tax wedge, which is a measure of the net tax burden on labour income borne by the employee and the employer.
The 2015 edition of National Accounts of OECD Countries, General Government Accounts is an annual publication, dedicated to government finance which is based on the System of National Accounts 2008 (SNA 2008) for all countries except Chile, Japan, Korea and Turkey (SNA 1993). It includes tables showing government aggregates and balances for the production, income and financial accounts as well as detailed tax and social contribution receipts and a breakdown of expenditure of general government by function, according to the harmonised international classification, COFOG. These detailed accounts are available for the general government sector. Data also cover the following sub-sectors, according to availability: central government, state government, local government and social security funds.
The data in this publication are also available on line via www.oecd-ilibrary.org under the title OECD National Accounts Statistics, General Government Accounts (http://dx.doi.org/10.1787/na-gga-data-en and http://dx.doi.org/10.1787/na-gga08-data-en).
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The tax burden in Iceland increased by 2.8 percentage points from 35.9% to 38.7% in 2014. The corresponding figures for the OECD average were an increase of 0.2 percentage points from 34.2% to 34.4%.
The 2015 edition introduces more detailed analysis of participation in early childhood and tertiary levels of education. The report also examines first generation tertiary-educated adults’ educational and social mobility, labour market outcomes for recent graduates, and participation in employer-sponsored formal and/or non-formal education.
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This note presents selected findings based on the set of well-being indicators published in How's Life? 2015?
Iceland has steadily recovered from the financial crisis. Key challenges to ensuring sustained growth and high levels of wellbeing include consolidating macroeconomic stability, locking in progress in fiscal policy and lifting productivity growth.
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Labour market conditions in Iceland further improved during the last year. In March 2015 the harmonised unemployment rate stood at 4.2% of the labour force, 1 percentage point lower than a year earlier.
Specific country notes have been prepared using data from the database OECD Health Statistics 2015, July 2015 version. The notes are available in PDF format.