Norwegian Salmon Firms Freeze Investments, Halt Expansion Plans Following Resource Tax
Following the announcement of the Norwegian government’s proposal for a 40% resource tax on aquaculture in the country, a collection of major salmon farmers headquartered in Norway have frozen investments and canceled additional farming licenses, along with other actions, in a quick fashion.
The proposal, which was announced on September 27, will impose a resource tax on both salmon and trout farming of 40%, effective from the tax year 2023 for farmers with volumes above 4,000 to 5,000 tons, according to salmon farming giant Mowi...
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