Faroe Islands

Country profiles
Country profiles

Faroe Islands

  • Corporate Tax Haven Index ranking: N/A
  • Financial Secrecy Index ranking: N/A
  • Tax loss each year to tax havens: $1,068,400
  • Tax loss inflicted on other countries: $39,454,508

Country profile

Tax abuse losses

$1,068,400

lost in tax every year to global tax abuse

$0

lost to tax avoidance committed by multinational corporations

$1,068,400

lost to tax evasion committed by private individuals

  • Equivalent to 0.04% tax revenue (GDP in 2020 : $2,687,535,843 trillion)
  • Equivalent to loss of $22 per member of population (Population: 48,192.60)
  • Smaller than Global Average GDP Loss 0.53%
  • Smaller than Regional Average GDP Loss 0.87%

Global Rankings

Corporate Tax Haven Index 2019
#N/A

Global Rank (First is Worst)

N/A/100

Haven Score (100 is Worst)

N/A

Share of global tax havenry

Financial Secrecy Index 2020
#N/A

Global Rank (First is Worst)

N/A/100

Haven Score (100 is Worst)

N/A

Share of global tax secrecy

Harm to other countries

$39,454,508

in tax lost by other countries

$29,685,636

by enabling corporate tax avoidance

$9,768,872

by enabling private tax evasion

Responsible for 0.01% of global tax losses
Inflicted tax loss equivalent to yearly salaries of
3,128 nurses

Social impact of lost tax

Tax loss equivalent to N/A of health budget
Tax loss equivalent to N/A of education spendings
Suffered tax loss equivalent to paying yearly salaries of
25 nurses

Vulnerability to illicit financial flows

Most Vulnerable via Inward Portfolio Inv.
Vulnerable Score for this channel is 48.00 / 100
(100 is Worst)

Trading partners most responsible for vulnerability

United States (40.1%)
Denmark (15.5%)
Luxembourg (10.8%)