- Tíðindi, mentan og ítróttur
Lowest tax level since 2016
Lowest tax level since 2016
Last year’s public tax revenues were the highest in several years. But GDP grew faster than tax revenues, resulting in a falling tax level
24.11.2023 - 08:57
The Faroese tax level is decreasing, reports Statistics Faroe Islands.
In 2022, the tax level in the Faroes was 40.6% of GDP, which is the lowest since 2016.
The tax level is the total amount of taxes and duties collected expressed as a percentage of GDP.
Public tax revenues amounted to just over DKK 10.2 billion last year. This is an increase of DKK 621 million (6.5 percent) on 2021.
The Faroese tax level is at a similar level to that of the mainland Nordic countries, while it is slightly higher than that of the western Nordic countries.
Tax levels in the Faroes, Norway and Finland have historically been at similar levels, while Denmark has had a slightly higher level.
Read the Faroese version of this article here.
More Faroese News in English.
Er kopiera
Nýggjastu sendingar í ÚV
Nýggjastu sendingar í SV
