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 and Alaska thrive on the islands. The bird fauna of the Faroe Islands is dominated by seabirds and birds attracted to open land like heather, probably because of the lack of woodland and other suitable habitats. Many species have developed special Faroese sub-species: common eider, Common starling, Eurasian wren, common murre, and black guillemot. The pied raven was endemic to the Faroe Islands, but has now become extinct. Only a few species of wild land mammals are found in the Faroe Islands today, all introduced by humans. Three species are thriving on the islands today: mountain hare ("Lepus timidus"), brown