"With an additional tax of 51,3% on regular after-tax profits, half of the gain from these licenses is gone. So, these projects are no longer profitable," Måsøval AS confirms WeAreAquaculture.
Previously, the farming company received 4 development licenses to develop the concept of Aqua Semi. The aim is to open up new areas for salmon farming, reduce lice and disease contagion and improve fish health.
According to Måsøval, "the investment is significant. It was made profitable by the granting of development licenses that we would be able to convert to regular, commercial licenses after finalizing the project".
The company finished all detailed engineering and was ready to start negotiating with suppliers. Now, with the proposed tax regime, Måsøval does not see this as "financially viable".
Finally, it says "the development licenses were granted to develop newer methods of producing salmon with a focus on better fish welfare and environmental impact."
Måsøval AS is an integrated producer of Atlantic salmon with more than 50 years of operational experience. It is located in Central Norway in the region west of Trondheim. The company has both significant farming operations at sea and in-house smolt production.
Therefore, through its majority ownership in the processing and distribution company Pure Norwegian Seafood AS, Måsøval is processing and exporting high-quality Atlantic salmon to a global marketplace.