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, the agreements with Greenland and India as well as the Nordic Convention, comply with the minimum standard.
The Faroe Islands has not joined the MLI.
The Faroe Islands is implementing the minimum standard through the inclusion of the preamble statement and the PPT.
The Faroe Islands signed a complying instrument with respect to its agreement with Greenland.
The Faroe Islands indicated in its response to the Peer Review questionnaire that the agreements with India and Switzerland are agreements concluded by Denmark that apply to its territory.
The Parties to the Nordic Convention signed a complying instrument in 2018. The protocol entered into force on 28 November 2019 and its provisions took effect 1 January 2020.