[digvalley]

Well,

1. the tax rate is high (50%)

2. resources (fish) is widely corrupt and just a few billioners reap the benefits (proportionally)

3. there are loopholes. Shippers who work for a faroe islands company, work abroad, has their residence in an other country pay 0% tax (something like that)

4. the tax code has not much less complexity than say norway.