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 national football team 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. They took part in the Island Games in 1989 and 1991 and won both tournaments. They also took part in the Nordic Football Championship for the first time in 2000–01, the