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Resource companies that operate in Greenland are subject to taxation under Greenlandic law. This means that companies must pay taxes on income generated from activities within the country’s borders. The tax jurisdiction encompasses both direct...

Naalakkersuisut introduced a gross tax  system, effective from January 1, 2011 , for individuals working in the resource sector and on major construction projects outside established towns and settlements in Greenland. Under this system,...

Resource companies must register with the Greenlandic Employer Register . This registration ensures that the company reports and pays taxes on employee wages correctly. Registration is required for reporting wage expenses and paying withholding...

Greenland has a corporate tax rate of 25% . This tax is applied to the company’s net income , after all deductions have been made. Companies must submit their financial statements and tax returns by July 31 . Other businesses, such as ...

Companies with a permit for exploration or exploitation of resources in Greenland can carry forward tax losses without time limitations . These carried forward tax losses can be applied to offset future taxable income but are subject to...

Resource companies are required to pay royalties to the Government of Greenland based on the production of natural resources. The royalty rates vary depending on the type of resource and the amount of material extracted. For example: ...

Transactions between a Greenlandic subsidiary and its foreign parent company must be conducted on arm's length terms . This means that prices should be set as if the two entities were independent parties. The purpose of this is to prevent tax...

Companies must comply with all local tax regulations and reporting requirements , which include the timely submission of tax returns and the payment of due taxes . Failure to comply with these obligations can result in sanctions and fines . ...