Some mandatory contributions, i.e. health insurance (Heilsutrygd) and the broadcast receiver license (Kringvarpsgjald) are withheld from your pay once a month. If you receive wages more than once a month, these contributions will only be withheld once.

Furthermore, your tax rate is based on your income, so if your income is changeable, the basis for your taxation may also change.

TAKS looks at your income in the last three months and calculates your tax according to this information. Therefore, it usually takes three months for your taxes to adjust.

If you are subject to full tax liability in the Faroe Islands, you are required to contribute to health insurance (Heilsutrygd) and the broadcast receiver license (Kringvarpsgjald) even when you do not have an A-income.

When it is not possible to withhold these contributions from  your taxes, you will be billed instead.

If you are leaving the Faroe Islands, tell your bank not to cancel your Faroese bank account. In this way, the holiday allowance and possible tax refund will be automatically credited to your account.

Read more about holiday allowance under quick links.

Remember to tell your municipality of residence that you are leaving.

You may receive presents for birthdays, Christmas or other special days without paying customs duty. The present can have a maximum value of DKK 700.

Read more about sending presents to the Faroe Islands and about importation under quick links.

By ship
Get the form stamped at customs in the departure hall of the terminal building, one hour before departure.

By aeroplane
Get the form stamped at customs at the airport, one hour before departure. Ring the bell for service.

There are a few things to consider when clearing customs as an individual.

• If the value of the parcel is under DKK 300: the parcel is usually exempt from customs duty and other fees.
• If the value of the parcel exceeds DKK 3,000: you are required to fill out a customs form (Tollingaráheitan)
• If the goods are made in a country that the Faroes have a free trade agreement with: if the goods are made in an EU-country, Norway, Switzerland or Iceland, the parcel is exempt from customs duty if a certificate of origin is enclosed.

Send all the requirements to tollur@taks.fo

Read more about customs duty and importation under quick links.