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Government: Vat Deduction for Taxis Should Be Changed

Summary by Kringvarp Føroya
The VAT deduction for the sale of taxis will now be changed. According to the new budget proposal, the current VAT deduction for taxis will be changed considerably. This will be used to finance the government's plans to make consumer goods cheaper.  The Icelandic Car Dealers Association, which brings together Faroese car dealers into one association, believes that the additional revenue that the Ministry of Finance estimates it will receive by d…
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Kringvarp FøroyaKringvarp Føroya

Government: Vat Deduction for Taxis Should Be Changed

The VAT deduction for the sale of taxis will now be changed. According to the new budget proposal, the current VAT deduction for taxis will be changed considerably. This will be used to finance the government's plans to make consumer goods cheaper.  The Icelandic Car Dealers Association, which brings together Faroese car dealers into one association, believes that the additional revenue that the Ministry of Finance estimates it will receive by d…

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Kringvarp Føroya broke the news in on Wednesday, October 1, 2025.
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