Greenland remains a promising frontier play, especially in the offshore segment. The government is keen to promote oil & gas investment, and although few changes to the fiscal code are planned or demanded, the ministers remain open to suggestions.
May 18, 2021
Americas - North
Northern North America, island between the Arctic Ocean and the North Atlantic Ocean, northeast of Canada.
Greenland tax-resident companies are subject to corporation tax on their worldwide profits, including chargeable gains, with credit for any creditable foreign taxes. The taxable income of companies is stated as their gross income net of operating expenses — i.e., expenses incurred during the year in acquiring, securing and maintaining the income.
Greenland remains a difficult to enter, and is limited in scope. Governmental support is encouraging, but here again, its assistance is limited.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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