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
Faroe Islands Cup Faroe Islands Cup The Faroe Islands Cup () is the main football cup competition in the Faroe Islands. The first edition was played in 1955. The first decade of the competition was marked by the alternance of titles between HB and TB. In subsequent editions, teams like B36, KÍ and currently inactive GÍ were also champions, but not enough to approach the number of titles of HB. However, in recent years, the cup has been dominated by EB/Streymur and Víkingur, which alternated titles for nine editions and have already made 3 finals (all won by Víkingur). The clubs in "Italics"