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
Tour of Faroe Islands Tour of Faroe Islands The Tour of Faroe Islands () is a road cycling race held in the Faroe Islands. The race consists of a men's, women's and juniors' competition over a prologue and four or five stages, which are for elite cyclists and shorter distances for non-elite cyclists. From 2011 to 2013, the race was changed to four stages in three days. The first edition of the "Kring Føroyar" tour was held in 1996 but it was not an official race; the 1997 Tour was the first official edition of the race. The race is normally held in July