The Norwegian government intends to introduce a 35 percent tax on the profits of farmers who grow salmon and trout
Salmon
Frozen Trout
Seafood
Norway
Published Apr 5, 2023
Tridge summary
State-issued aquaculture licenses enable companies to benefit from public resources, and in recent years governments on both the left and the right have considered imposing additional taxes on the fish farming industry. Norway, the world's largest producer of farmed salmon, harvested 1.5 million tons last year, ahead of Chile with almost a million tons, according to industry data.
Original content
Norway's centre-left Labor government now has to negotiate a final deal in parliament before the tax goes into effect, but it's clear the majority is in favor of higher taxation of the sector. “There is a long tradition in Norway that the value created by the use of our shared natural resources should benefit the whole of society,” said Prime Minister Jonas Gahr Støre. Farmers have lobbied for a resource tax that exceeds the usual 22% corporate tax, saying it would stifle investment and hurt a sector that has brought jobs and wealth to coastal communities at risk of demographic decline. Last September, the government estimated that the additional profit or resource rent generated by the fish farming sector in 2021 through privileged access to natural resources was NOK 11.8 billion ($1.13 billion). The government said it would prefer to negotiate with a wider group of parties in parliament to ensure the tax would not be repealed later, but the main conservative opposition party ...
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