Salmon tax probe un­der­way

Fish Farmer - - All The Latest Industry News From Europe -

THE Nor­we­gian gov­ern­ment has ap­pointed a spe­cial com­mit­tee made up of lead­ing fi­nan­cial and eco­nomic ex­perts to work out how the coun­try’s aqua­cul­ture in­dus­try should be taxed in fu­ture years.

Fi­nance min­is­ter Siv Jensen said the com­mit­tee will as­sess how the tax sys­tem should be de­signed to help the com­mu­nity get a share from the con­sid­er­able sums that are now be­ing made from fish farm­ing.

But she stressed that any new sys­tem should be struc­tured in such a way that com­pa­nies con­tinue to re­ceive in­cen­tives to make new in­vest­ment de­ci­sions.

‘Nor­way is one of the few places in the world where cli­mate con­di­tions nat­u­rally fa­cil­i­tate the ef­fi­cient farm­ing of salmon and trout in the sea,’ she said.

‘Since the be­gin­ning of the 1970s, the Nor­we­gian aquacul- ture in­dus­try has de­vel­oped strongly, mak­ing the coun­try the world’s largest pro­ducer and ex­porter of At­lantic salmon.’ Many of Nor­way’s more re­mote coastal com­mu­ni­ties are al­ready re­ceiv­ing large sums from the auc­tion of new fish farm­ing li­cences, but it is thought the Oslo group will now look at the in­dus­try’s over­all tax struc­ture How­ever, the in­dus­try is wary. Geir Ove Yst­mark, CEO of Seafood Nor­way, which rep­re­sents both fish­ing and fish farm­ing com­pa­nies, said the last thing such a for­ward look­ing in­dus­try needed was a ‘dev­as­tat­ing tax sys­tem’ that weak­ened in­no­va­tion and slowed down in­vest­ment. But he said he was pleased that a thor­oughly pro­fes­sional in­ves­ti­ga­tion was be­ing car­ried out into the tax is­sue.

Above: Geir Ove Yst­mark, CEO of Seafood Nor­way

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.