Norway’s conservative party vows to scrap controversial salmon tax

by
Editorial Staff

Former Prime Minister Erna Solberg’s party would require a victory in the next election and substantial support in the Storting to overturn the salmon tax.

Norway’s Conservative Party, the main opposition with 36 seats in Parliament, has suggested scrapping the current government’s additional 25% tax on profits made by salmon farmers.

Instead, in their alternative budget proposal, presented on Thursday, they advocate for a raised production tax.

The ‘salmon tax,’ introduced on January 1, 2023, targets profits from farmed salmon and trout while they are at sea, on top of the standard 22% corporate tax.

The conservatives’ plan aims to lower overall taxes for individuals and businesses by NOK 9.5 billion ($900 million) and eliminate the ground rent tax on salmon farming.

They estimate the increased production tax would yield about NOK 3.8 billion ($360 million) in state revenue, serving as a substitute for the ground rent tax.

However, the likelihood of this budget amendment being adopted remains low, as the conservatives are outnumbered by the ruling coalition and other left-leaning parties.

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