Taxation in the Faroe Islands to be no longer than 12 months. However, the first accounting year can vary from 6 to 18 months. Taxation in the Faroe Islands Taxation in the Faroe Islands has differed from the taxes in Denmark since home rule was granted in 1948. This gives the Faroe Islands control over their own taxes. All citizens of the Faroe Islands are subject to personal taxation. The government tax rate on incomes up to DKK 500,000 is 20%. Incomes higher than this pay a fixed amount, always resulting in a higher percentage. There are multiple tax deductions in the Faroes. This includes
Extreme points of the Faroe Islands which makes use of the World Geodetic System (WGS) 84, a geodetic reference system. Extreme points of the Faroe Islands The extreme points of the Faroe Islands include the coordinates that are further north, south, east or west than any other location in the Faroe Islands; and the highest and the lowest elevations in the territory. The latitude and longitude are expressed in , in which a positive latitude value refers to the northern hemisphere, and a negative value refers to the southern hemisphere. Similarly, a positive longitude value refers to the eastern hemisphere, and a negative value refers to