Tax System in the Faroe Islands
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Tax System in the Faroe Islands
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Re: Tax System in the Faroe Islands
#2> “When the year is over, almost everybody ends up with ‘Oh, it’s correct. I don’t have to pay any more, and I don’t get any money back,’” said Mørkøre. Continuous collection also eliminates the time risk of the government losing out on tax payments if companies go bankrupt before TAKS could cash their checks.
Is this not normal in most of Europe? In Ireland, I've found it's usually only off by a few cent at most, which is then adjusted for in the next calendar year by automatically reducing tax credits appropriately.
Re: Tax System in the Faroe Islands
#3> “When the year is over, almost everybody ends up with ‘Oh, it’s correct. I don’t have to pay any more, and I don’t get any money back,’” said Mørkøre. Continuous collection also eliminates the time risk of the government losing out on tax payments if companies go bankrupt before TAKS could cash their checks. Is this not normal in most of Europe? In Ireland, I've found it's usually only off by a few cent at most, wh…
Yeah I think so. Often time it's invalid if you have periods without a job. So you paid too much in advance. Then you get it back.
Re: Tax System in the Faroe Islands
#4It's completely irrational but any mention of this place is tainted by their dolphin hunts. How about learn about their taxes and they learn about PR.
Re: Tax System in the Faroe Islands
#5It's completely irrational but any mention of this place is tainted by their dolphin hunts. How about learn about their taxes and they learn about PR.
The article has a good point from a few Faroese guys about how the mass inhumane US harvesting of beef, chicken, and pigs, is probably very similar in aggregate.
But when the food item is something Americans culturally eat, it becomes difficult for animal rights activists to push on because they get labeled as crazy immediately. Whereas food items Americans are not used to eating like whale or snake gets a round of applause from Americans and justifies a bit of underlying racism about how that other culture is simply an inhuman culture.
Re: Tax System in the Faroe Islands
#6They could send that journalist to almost any country and experience a better tax system than the US. Although it sounds like a nice trip and he got some hikes in.
> Filing taxes takes up an estimated 6.5 billion hours each year—as the right-leaning Tax Foundation points out, the equivalent of 3.1 million people working full-time for the whole year.
It's just a staggering level of waste. But hey, keep shuffling stuff around until that ”obnoxious paperwork” is technically only one piece of paper (except for all the schedules you need to also include). It's beyond dumb. Sort yourselves out, America.
Re: Tax System in the Faroe Islands
#7> “When the year is over, almost everybody ends up with ‘Oh, it’s correct. I don’t have to pay any more, and I don’t get any money back,’” said Mørkøre. Continuous collection also eliminates the time risk of the government losing out on tax payments if companies go bankrupt before TAKS could cash their checks. Is this not normal in most of Europe? In Ireland, I've found it's usually only off by a few cent at most, wh…
In Germany it’s a complicated bureaucratic mess and people often get can get a lot back but of course not always.
Re: Tax System in the Faroe Islands
#8They could send that journalist to almost any country and experience a better tax system than the US. Although it sounds like a nice trip and he got some hikes in. > Filing taxes takes up an estimated 6.5 billion hours each year—as the right-leaning Tax Foundation points out, the equivalent of 3.1 million people working full-time for the whole year. It's just a staggering level of waste. But hey, keep shuffling stuff…
Turbo tax and H&R Block, companies that produce software for filling taxes, lobby to keep taxes complex and non-easy (unless you pay for their software)
Re: Tax System in the Faroe Islands
#9Faroe Islands is a tiny speck. Countries are a cross between oil tankers and nuclear power plants.
There's nothing to learn politicians have debated every single tax system known to human civilization. But even small changes are Herculean tasks.
Re: Tax System in the Faroe Islands
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