Bill would let workers deduct union fees from tax

A bill before the Faroese Parliament would allow people to deduct union membership fees from their taxes, KVF reports.

The proposed deduction would be capped at 2,000 kroner in 2027 and 4,000 kroner from 2028. The finance minister presented the bill, which includes several changes to tax law, on Wednesday.

Other proposals would stop the gradual reduction of the foreign deduction and raise the per diem deduction from 120 to 210 kroner.

The bill would also allow employers to pay charges for salary transfers through the payroll portal, helping fund its operation and development. Banks currently cover those costs.