Chapter I	Warehouses
Chapter II	Foreign vamotigers, etc.
Chapter III	Common provisions

Completion of the Act on the Tax Decision of the Quadtigre and so on.

This shall be made known as to the fiscal specification of stock-reptig; etc., cf. Law Order no. 918 of 2. In December 1993, with the changes that are being made by paragraph 7 of Act No. 487. 12. June 1996, section 21 of law no. 1219 of 27. December 1996, section 12 of Law No 434 of 26. June 1998, section 14 of law no. 425 of 6. June 2005 and section 75 of the Law No 428 of 6. June 2005.

Chapter I

Warehouses

§ 1. In the case of the income of the taxable income, nutritional persons, death boes and companies and associations may choose to make up their trade repent on the basis of :

1) the day price at the end of the accounting year, or

2) the purchase price of an addendum of freight, customs and the same (the invoice price), or

3) the cost of the manufacturing price where the product is manufactured in its own business.

Paragraph 2. For the inventory of the value of the warehouse in accordance with paragraph 1. 1 the taxable duty shall not be included in the tax, which, by the calculation of his tax evasion, may be deducirely from the tax on the standard cardomial fee.

Paragraph 3. The taxable may for each inventory group within the warehouse choose freely between the parties referred to in paragraph 1. 1 mentioned ways of fertilizing.

Paragraph 4. in the amount set out in accordance with paragraph 1. 1 3, in the individual income, a reduction shall be made up to a maximum of the following percentage of the amount :

Paragraph 5. Depreciation of paragraph 4 may be carried out in respect of the stocks of goods, raw materials, whole or semi-finished products, packaging, and aids in production undertakings, including fuel belonging to the establishment at the end of the accounting year.

§ 2. The amount by which the inventory was written down in section 1 (1). 4, shall be reported in the accounts or in the tax return.

Paragraph 2. The valuation of the warehouse used at the end of a financial year shall be used in the valuation of the same vadeas at the beginning of the following financial year.

Chapter II

Foreign vamotigers, etc.

§ 3. Where the tax or income of foreign activities is covered by a contract concluded with a foreign state, the Faroe Islands or Greenland, to the avoidance of double taxation or are covered by Section 33 of the body of the body of the same person, restrict access to depreciation in accordance with section 1 (2), 4. The restriction applies when, after depreciation of foreign companies ' trade stocks or stock-related activities in the Faroe Islands or in Greenland, a deficit can be deducted from the taxable income in this country. Depreciation shall be reduced by an amount equal to the deficit, but not more than the amount by which the depreciation of the projections exceeds the equivalent depreciation at the end of the preceding revenue.

§ 4. If a person ' s tax duty is to be performed according to the source tax tax of section 1 as a result of relocation abroad, there may not be any stock depreciation in the audible year. This does not, however, apply to the extent that the inventory has been linked to the establishment of the income of the person concerned to the country, in accordance with the provisions of Article 2 (2) of the source tax. 1, no. FOUR, ONE. Act. shall apply by analogs to the termination of tax obligations on the part of paragraph 2 (2) of the source tax. 1, no. 4, unless, instead, tax obligations shall be entered in accordance with the source of the source tax on Article 1 of the source. With the end of full tax obligations here to the country, a person under a double-tax agreement with a foreign state, the Faroe Islands or Greenland is becoming a resident.

§ 5. (Aphat)

Chapter III

Common provisions

§ 6. The application of the rules laid down in Chapters I and II of this Regulation is a prerequisite for the balance of the tax rules laid down in accordance with the rules applicable to proper business conduct.

§ 7. A taxable can change the selfless manner for stock-reptieous and so on in accordance with section 1 (2). 1. The taxable person shall submit a notification of the change to customs and tax administration no later than three months after the expiry of the self-deformed period.

Paragraph 2. Amendment of the tax procedure in question after the expiry of the time limit laid down in paragraph 1. 1 requires the customs and tax administration to be authorised. The tax rate may lay down detailed rules for the exercise of jurisdiction by the customs and tax authorities after 1. Act.

§ 8. § 14, no. Amendment No 4. 149 of 10. April 1922 on the income and wealth tax to the state is hereby repealed with effect from and with the tax year 1968-69.

§ 9. The law does not apply to the Faroe Islands and Greenland.