DT6950 - Faroes: Agreements

The agreement (SI 1961/579) extended to the Faroes the operation of the Danish Agreement of 1950 (SI 1950/1195)(see DT5901). It had effect

(a) In the United Kingdom for

(i) ) Income Tax from 1958-59,

(ii) ) Corporation Tax from 6 April 1964.

(b) In the Faroes from the taxation year beginning 1 April 1958.

Further agreements (SI 1968/307, SI 1971/717 and SI 1975/2190) extending to the Faroes the provisions of the agreements amending the 1950 Denmark agreement (see DT5901) entered into force on 3 April 1968, 31 May 1971 and 19 December 1975 respectively.

The agreement and amending agreements have been terminated. In the United Kingdom the termination took effect from 1 April 1997 (Corporation Tax) and 6 April 1997 (Income Tax).

A new agreement was signed on 20 June 2007 but has not yet entered into force.