Taxation in the Faroe Islands 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 a 14% deduction for fishermen. However, this is limited to 14% of DKK 470,000 corresponding to a maximum annual
Faroe Islands national football team and 20 November 2018 respectively. "Caps and goals as of 20 November 2018, after the game against Malta." Source: The following players have been called up within the last 12 months. Faroe Islands national football team The Faroe Islands national football team (; ), represents the Faroe Islands in association football and is controlled by the Faroe Islands Football Association. The Faroe Islands became a member of FIFA in 1988 and UEFA in 1990 and is the fourth smallest UEFA country by population. Faroe Islands have never advanced to the finals of the FIFA World Cup or UEFA European Championship.