Taxation

Working in Europe | Taxation/salaries | Faroe Islands

The Faroese tax system is based around a set of direct and indirect taxes.

The tax system includes personal income taxes, value added taxes, customs and excise duties on various goods and services.

Taxes are also claimed on pension and capital gain. 

 

Customs are paid on most goods and services that are imported. The charge varies with the classification of the goods.

Excise duties are levied on a variety of commodities, including alcoholic beverages, tobacco, tea, coffee, chocolate, confectionery and motor fuel.

 

 

Read more:

Customs and Tax Office