8.1.2. Other Taxes
The following table provides an overview of other taxes that may be imposed on a company doing business in the country.
| Tax Type | Rate(s) | Notes |
|---|---|---|
| Capital Duty | NA | |
| Payroll Tax | Varies | Employer is required to withhold tax on gross salary of the employees at applicable rates. |
| Social Security Employer Contribution | 0.90% | Employers are required to contribute to social security fund at 0.9% of employees’ wages and salaries. |
| Social Security Employee Contribution | NIL | There is no social security employee contribution. |
| Stamp Duty | 1.50% | Stamp tax is payable on specified documents at 1.5% of the transfer amount. Type of documents include real estate transfer deed, real estate mortgage registration documents, transfer of ships, transfer of shares in companies that own ships. |
| Transfer Tax | NA | |
| Property Tax (Real property) | No | There is no property tax in Greenland. |
| Customs Duty | Varies based on the type of product | Import duty is levied on certain products such as cars, alcohol, cigarettes, food products, etc. subject to certain conditions. |
| Excise Duty | Varies | It is levied on various products such as fish species, alcohol produced in Greenland, lottery and gambling activities, motor vehicles etc. |
| Royalty | Varies as per age of the license. | All oil licensees i.e. companies with mineral exploration licenses (current and future) are subject to government royalty levied in addition to CIT. It varies as per age of the license. Mining companies are required to pay royalty on the basis of turnover and the type of mineral. |