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
Religion in the Faroe Islands (0.19%), 12 Jews (0.03%), 13 Baha'i (0.04%), 3 Sikh (0.01%), 149 Others (0.43%), 85 with more than one belief (0.25%) and 1,397 with no religion (4.04%). The Catholic Church has nearly 150 adherents. There are also small groups of Seventh-day Adventists, Jehovah's Witnesses, Ahmadi Muslims and Bahá'ís in the country. Religion in the Faroe Islands Religion in the Faroe Islands consists largely of the Lutheran Church of the Faroe Islands, but also includes smaller Protestant groups such as the Open Brethren, as well as a few Catholics and adherents of non-Trinitarian religions, such as the Jehovah's Witnesses. The Church of