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
Ancient Diocese of the Faroe Islands Magnus Cathedral of Kirkjubøur. The thick basaltic walls broken by high, massive windows are evidence that the original builders meant to erect a Gothic church. It remained unfinished. Ancient Diocese of the Faroe Islands The former Catholic Diocese of the Faroe Islands existed from the 11th century to the Protestant Reformation. The Faroe Islands are now included in the Roman Catholic Diocese of Copenhagen. As recorded in the Færeyinga saga, Sigmundur Brestisson came to the Faroes and converted the people to Christianity more or less one by one. He was eventually attacked at his home by his first (forced) convert,