One year after the Faroese government imposed a resource tax on the territory’s salmon-farming industry, a new tax reform is making its way through parliament and is expected to formally pass on 21 May, upon its third and final reading.
Similar to the reform passed in May 2023, the new system under review would partly tax companies on the average market price for salmon compared to the cost of production.
However, the system it would replace constituted seven levels of taxation ranging from…
