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 Premier League February 2012 the name was changed to "Effodeildin", a 3-year deal was agreed with the Faroese petrol company Effo, which was previously called Statoil and Esso. The league renewed with Effo and was called Effodeildin until 2017. In December 2017 the name was changed to "Betri deildin menn", as the FSF signed with Betri, a bank based in Tórshavn. Source: Source: Source:; (from 1983) Faroe Islands Premier League The Faroe Islands Premier League is the top level of football in the Faroe Islands. It was founded in 2005, replacing 1. deild and it is organised by the Faroe Islands Football