Fiscal subject related
Beginning March 1, 2025, the Government of Greenland will require all individuals and businesses to issue digital invoices when providing goods or services to public authorities. These digital invoices must be formatted for automatic processing and include various document types such as invoices, credit notes, reminders, and business receipts. Detailed technical specifications can be found on the Inussuk-IT website.
Public authorities must register with the joint public NemHandelsRegister, overseen by the Danish Business Authority. When entering contracts, they are required to provide essential information, including their CVR number, GLN number, reference details, and requisition information to facilitate efficient invoice processing.
Municipal councils and the Economic and Personnel Agency will establish annual turnover thresholds to exempt smaller entities from this requirement. Any invoices that do not meet the digital processing standards will be rejected, which will reset the payment timeline to the date a corrected invoice is received.
Operating under a semi-autonomous status within the Kingdom of Denmark, Greenland manages its domestic affairs, including taxation. While it has the authority to adapt its financial regulations, like digital invoicing, to local needs, Denmark maintains oversight of foreign relations and monetary policy. This new digital invoicing mandate is part of Greenland's efforts to modernize its public sector transactions and improve transparency.
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The Danish Business Authority has released updated Peppol Schematron Packages (CIUS 1.14.0 and BIS3-Other 1.2.10), which will become mandatory on February 17, 2025. Let's delve deeper into this topic! Read more
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