is tax liable according to the Hydrocarbon Tax Act; or in addition subject to the ordinary tax legislation. B1 Tax liability subject to both the Hydrocarbon Tax Act and subject to the ordinary tax legislation [...] earner is tax liable subject to the Hydrocarbon Tax Act only, he has to pay a definitive tax of 35% of his gross income. It also means that the wage earner shall not submit a Personal Income Tax Return, but [...] as a company that is tax liable subject to the Hydrocarbon Tax Act only, pay tax on »derivative income« by 20%. C. Tax Rates. As is apparent from what I have outlined above, the tax liability is of great

spreads its footprint to more and more areas of the world. The acquisition of Houston-based Mustang Engineering means that the group?s institutional shareholder base has grown to more than 20%. This prompted [...] business offering in more arenas around the world. It has also opened up a new area of business, non-oil and gas waste logistics and quickly one its first contract in the field with more to follow. Abbot Group [...] year with the acquisition of TXU?s entire UK upstream portfolio for £138 million. The assets traded represented 130 bcf of remaining gas sales and moved Consort into the top 10 of companies with remaining

Faroes. He is the former Vice President of the USA, but is probably more renown for his environmental work. He was here in connection with a climate conference, which Bitland assisted in organising. Bitland [...] The reasons for establishing the company, was the opportunity of creating a powerful team, which with its well-educated people are in a position to resolve large-scale consultancy tasks both domestically [...] Group is a new venture, our consultants have extensive experience within all knowledge related services. Most staff have between five to fifteen years experience within their areas of competence, and

will be other ? more incidental ? kinds of activities, that follow the oil industry, such as services provided by lawyers (with expertise in oil and gas law), accountants/auditors, tax-consultants, etc [...] Islands, Tórshavn, that will offer legal services to the oil-industry and the connected service-industry both in relation to Faroese legal issues and in relation to the more specific and/or special oil and gas [...] from the oil-industry to remain in the Faroes, but more importantly has been based on the wish that the Faroese society, through the active involvement with the oil-industry, should gain skills, capability

therefore we can use these recommendations to improve our services even more. On top of this Rúnavik is the best natural haven in the Faroes, with its large backup/storage area for material and equipment [...] subcontractor base, offering services and equipment at competitive prices. ISO certification Since the last oil exploration activities, ASB has improved its services even more. They now hold ISO 9001:2000 [...] the offering of services, trade and industrial activities to an offshore industry. They operate the only oil industry supply base in the country and are able to offer a complete service to the large oil

and try to inspire and develop ideas for more services. On the one hand we must develop new services and activities and, on the other hand, increase bed capacity, because demand is surpassing the amount [...] your computer screen by means of the Internet. And more and more people seek such information of their own accord. It is essential that we work more thoroughly on market segmentation and make relevant [...] Angler« who visited the Faroe Islands in June has a clear view: As more and more skippers start to specialise in sport fishing and more anglers visit these wonderful islands, only then will the full sport

population. More­over, the IT penetration is near 100 %. We are now about to undertake significant investments in the Vagar airport both with the aim to modernise it and to increase its capacity with a longer [...] efficient and concentrate on delivering welfare services, while private businesses should take care of the production of goods and services such as financial services. For this reason we have started a privatisation [...] fact amongst the best educated in the world, and of the Nordic countries only the Finnish population actually has a higher degree of education than the Faroese. Infrastructure is good with sub­seatunnels

in a good way in our country. Of course it is a matter for the Council to give newcomers the best service. We must have employees and an office for the matter, so newcomers know where to contact professionals [...] Town Council must give this service. An office that can advice and guide new citizens to be easily integrated into our society. The advice should be easily accesible and help with for example practical tasks [...] It is very important that the next elected Town Council in Tórshavn has a lot more focus on integration than we have today. Integration must be on our political agenda. As Tórshavn is the capital, it would

that the visitor leaves with the best impressions of the host country. They will be wined and dined and strenuous efforts will be made to meet whatever individual wishes they have with regard to sightseeing [...] visits with their eyes open then the links that are created can only help the Faroe Islands. The British clearly have an agenda based on their national interests to pursue in their engagement with the Faroe [...] relationship and to pursue this with equal determination. There must after all be large areas of mutual interest. This means it is time for some strategic thinking about relations with the Faroe Islands closest

very busy with oil related ships. Our income this year is well up, and much of that is thanks to oil-related offshore activity.« »There is more emphasis now on these areas, especially with the turmoil [...] way of life succeeded. The community has probably won the best deal possible and certainly, the best deal any small community has ever struck with the almighty oil industry. Summarised, the content of this [...] confidence that we can deliver the services required by the East and the West of Shetland oil fields. It is investment today for the ongoing business tomorrow.« Others are more open about their aspirations and