The Faroe Islands has five tax agreements in force as reported in its response to the Peer Review questionnaire, including the multilateral Nordic Convention concluded with Denmark, Finland, Iceland, Norway and Sweden (the Nordic Convention).1 Three of those agreements, including the Nordic Convention, comply with the minimum standard.
The Faroe Islands has not joined the MLI.
The Faroe Islands indicated in its response to the Peer Review questionnaire that steps have been taken (other than under the MLI) to implement the minimum standard in its agreements with Switzerland.
The Faroe Islands is implementing the minimum standard through the inclusion of the preamble statement and the PPT.