Faroese finance minister admits VAT exemptions cost unknown
Thursday 2nd July 2026 on 17:15 in
Faroe Islands
The Faroese government does not know how much its 22 VAT exemptions on sales and 16 exemptions from VAT registration cost the treasury, Finance Minister Aksel V. Johannesen has told MP Steffan Klein Poulsen.
Johannesen said calculating the cost would require extensive analysis, adding that the exemptions also cover rules on VAT refunds.
His written response to Poulsen was published by Faroese public broadcaster KVF.
Source
(via KVF)