January 26, 2023

Norway to amend proposed salmon tax

The initial proposal used a norm price based on the Nasdaq index, but the amended tax will be based on valuations that reflect the true price of salmon.

The news was reported by Norway's major newspaper Dagbladet, citing Geir Pollestad, a Center Party politician and member of Norway's Parliamentary Standing Committee on Finance and Economic Affairs.

Trygve Slagsvold, Norway's Finance Minister, sent shockwaves through the Norwegian fjords when he announced that the government wants to impose an additional tax on the aquaculture sector, which was worth NOK 3.8 billion (~US$383 million; NOK 1 = US$0.10) last autumn.

The aquaculture ground rent tax was met with major protests. It was slammed by the industry and local politicians.

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