Brief: SalMar Comments On Norwegian Resource Rent Tax On Aquaculture

SalMar ASA

01/06/2023 11:12

June 1 (Reuters) - SalMar  SALM.OL :
    * SAID ON WEDNESDAY NORWEGIAN PARLIAMENT HAS PASSED AN
ADDITIONAL
RESOURCE RENT TAX ON AQUACULTURE IN NORWAY, WITH A TAX RATE OF
25%
    * SAYS CO HAS CONSISTENTLY WARNED AGAINST THE NEW TAX, WHICH
IS
BASED ON THE INCORRECT ASSUMPTION THAT AQUACULTURE FOOD
PRODUCTION IS A LOCATION-BOUND RESOURCE RENT INDUSTRY THAT
CONSISTENTLY GENERATES EXTRAORDINARY RETURNS DISPROPORTIONATE TO
THE RISK INVOLVED
    * SAYS TAX DECISION WILL HAVE A SIGNIFICANT DISTORTING
EFFECT
    * SAYS GIVEN THESE CIRCUMSTANCES, SALMAR WILL CONTINUE TO
ACTIVELY
COLLABORATE WITH INDUSTRY ORGANIZATIONS TO DESCRIBE THE ACTUAL
SITUATION AND THE CHALLENGES THE INDUSTRY IS CURRENTLY FACING

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE6Cx6Sp
 Further company coverage:  SALM.OL  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))