Tax break for apprentices

An upcoming amendment to the tax law will give apprentices an annual tax deduction of DKK 50,000.

This will amount to an average extra disposable income of DKK 1,650 per month, or DKK 19,500 per year.

Fifteen trade unions have been consulted on the planned change, and there is a generally positive attitude towards it.

A win-win situation

The unions say that the amendment will encourage apprentices to take up extra work, which is positive for employers and employees alike.

The change will encourage people to take up an apprenticeship, and those who do will also have the opportunity to earn more money. Employers will also benefit, as the supply of workers will increase.

Føroya Arbeiðsgevarafelag (the Employers’ Union) has repeatedly stated that general income taxes are too high, and it is pleased to see that this is a step in the right direction.

Translated by prosa.fo