The “salmon tax” in Norway will be 25%

Reuters reported a few hours ago that the Norwegian Parliament has finally reached an agreement to impose a resource rent tax on aquaculture, the so-called "salmon tax." As a result, and after several changes to the figure, the Center Party would impose a 25% tax.

The story that has been controversial since it was announced seems to be coming to an end. The Storting's finance committee, originally scheduled to finalize the recommendations on the controversial aquaculture land lease tax on Tuesday, May 16, ultimately delayed the process due to extended negotiations between the political parties involved.

Thus, although not all the details are available, Norway Post published some of them:

• The government actively reduced the effective tax rate from 35% to 25%.
• They increased the valuation discount in wealth tax from 50% to 75%.
• The host municipalities and counties are ensured a higher income from the Aquaculture Fund for 2023.
• Moreover, they presented multiple request proposals aimed at enhancing the environmental profile and promoting technology development.

Furthermore, at the end of the communiqué, it is explicitly stated that this is a multi-party decision. Concretely, from the Patient Focus, the Center Party, the Labor Party, and the Liberal Party.

Everyone is eagerly awaiting to see how the process unfolds and how companies respond to this decision.