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logo 11/27/2024 4:37:27 AM     
Spectre of salmon tax causes Cermaq to freeze Norwegian investments 
NO Source: The Fish Site 10/4/2022
Spectre of salmon tax causes Cermaq to freeze Norwegian investments
The government proposal for a new 40 percent “resource rent” tax on the country’s largest producers of salmon and trout, with effect from 1 January, was sent out for consultation last week and caused share prices of the country’s leading publicly traded salmon farming firms to nosedive by up to 19 percent.
 

“We will wait for more clear understanding of the announcement of last week and the final proposal for the resource rent tax and associated regulations,” stated CEO, Steven Rafferty, this week.

Cermaq was Norway’s fourth biggest producer of salmon last year, harvesting 92,000 tonnes, putting it well over the 5,000-6,000 tonne tax exemption suggested by the government, should the law be passed by the Norway’s parliament, the Storting.

 
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