Brief: Bakkafrost Updates On Revenue Tax On Salmon Farming In The Faroe Islands

P/F Bakkafrost

03/10/2022 08:58

Oct 3 (Reuters) - P/F Bakkafrost  BAKKA.OL : 
    * SAID ON FRIDAY, THE FAROESE GOVERNMENT HAS OFFICIALLY
PRESENTED
TO THE PARLIAMENT A PROPOSAL TO ADJUST THE FAROESE REVENUE TAX
ON THE SALMON FARMING INDUSTRY 
    * PROPOSAL INCLUDES THREE IMPORTANT CHANGES TO THE CURRENT
REVENUE
TAX SYSTEM, ORIGINALLY INTRODUCED IN 2014
    * CHANGING THE NUMBER OF APPLICABLE TAX RATES FROM 3 TO 5
    * INCREASING THE SALMON PRICE THRESHOLDS THAT DETERMINE WHEN
EACH
TAX RATE IS APPLICABLE
    * LINKING THE SALMON PRICE THRESHOLD TO THE AVERAGE
PRODUCTION
COST FOR THE FAROESE SALMON INDUSTRY, WHICH WILL BE ASSESSED
ANNUALLY

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nObi6HdYra
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