| Type | Amount |
|---|---|
| Corporate tax | 25% |
| Dividend tax | 36% |
Dividends can be deducted, whereby the total of Corporate Tax and Dividend Tax is 36 %
| Location | Where | Amount |
|---|---|---|
| Residence of Greenland: | Kommune Kujalleq | 44% |
| Kommuneqarfik Sermersooq | 42% | |
| Qeqqata Kommunia | 42% | |
| Kommune Qeqertalik | 42% | |
| 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 | 1,1% |
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. Click Here VATGreenland has no VAT system. Click Here Import dutiesImport 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. Click Here
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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