Norway’s parliament has voted to abolish the aquaculture price council and the associated norm price system used to calculate resource rent tax liabilities for salmon farmers.
The Storting approved a proposal requiring the government to present legislation ending the norm price regime and the Aquaculture Price Council with effect from the 2027.
The proposal was put forward by Conservative Party (Høyre) politicians Bård Ludvig Thorheim, Mari Holm Lønseth and Ove Trellevik.
The Aquaculture Price Council was established as part of Norway’s resource rent tax framework for salmon farming and is responsible for setting benchmark prices used to calculate taxable revenues for producers.
The proposal was debated in parliament on 4 June and approved on 5 June following consideration by the Finance Committee.
The decision follows sustained criticism from parts of the salmon farming industry, which have argued that the norm price system creates uncertainty and does not adequately reflect actual market transactions.
The government must now prepare legislative proposals to implement the change from the 2027 tax year.