Tax

Tax

Type
Amount
Corporate tax
25%
Dividend tax
36%

Dividends can be deducted, whereby the total of Corporate Tax and Dividend Tax is 36 %

Personal tax

Location
Where
Amount
Residence of Greenland:
Kommune Kujalleq
44%
Kommuneqarfik Sermersooq
42%
Qeqqata Kommunia
42%
Kommune Qeqertalik
44%
Avannaata Kommunia
44%
Residence outside of Greenland:
Employees of the mineral sector with no tax liability to Greenland in the previous 6 months:
a flat rate regime in general without deductions and allowances.
35%
Employer’s obligation:
Payment of labour market contribution of gross salary
0,9%
Tax losses
Companies with licences to carry out exploration or exploitation of minerals may carry forward tax losses indefinitely. Tax losses carried forward may be capped under change of ownership provisions. Tax Losses may not be carried backward.
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VAT
Greenland has no VAT system.
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Import duties
Import duties are imposed on motor vehicles, meat products, alcohol, cigarettes, etc., but not on specific motor vehicles for the mineral sector. Import duties are in general not refundable.
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Depreciation allowance

Type
Effect
Amount
Buildings
Straight line
Up to 5%
Ships and planes
Straight line
Up to 10%
Acquired mineral licence
Straight line
25% each year for 4 years (*a)
Operating equipment
Declining balance
Up to 30%
Operating equipment
Acquisition costs below DKK 50,000
Up to 100%
Acquisition costs below DKK 100,000 (*b)
Up to 100%

*a If the licence period is shorter than 4 years, at the date of purchase, the depreciation allowance is the purchase price divided equally over the remaining licence period

*b Only applies to individuals receiving income from independent business activities

Further information on the tax system, including tax forms, can be found on the homepage of the Tax Agency.

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