The Ministry of Finance now estimates in a letter to the Storting that the government’s new salmon tax could generate revenues of NOK 16-17 billion in 2023. This is revealed in a response from the ministry to a question from the Conservative Party’s finance faction. The ministry emphasizes that the calculation is uncertain and based on the assumptions in the question from the Conservative Party. The assumptions involve a salmon price in line with the future price of Fishpool, an unchanged exchange rate, a 10 per cent increase in production costs and no tax adjustment. With the Conservative Party’s assumptions, the ministry estimates that it can be estimated, on a very uncertain basis, that the proposal for ground rent tax will yield a sum of NOK 16-17 billion for 2023. Somewhat lower in 2024 The calculation shows a somewhat lower sum in 2024, but the income will still be far above the government’s first estimate of between NOK 3.65 and 3.8 billion. Based on somewhat lower future prices, the estimate for 2024 is NOK 14-15 billion with the Conservative Party’s assumptions. The estimate was based on accounting data for 2021 and tax data for 2020 for all aquaculture companies. Based on prices so far this year and Fish Pool’s future prices, a salmon price can roughly be calculated at around NOK 95 per kilo for 2023. For 2024, the future price at Fish Pool is today slightly above NOK 90 per kilo, the ministry claims in its letter to the Storting. At the same time, costs have also increased, including for feed. The Conservative Party asks the government to reconsider – We have asked the question because the government has not wanted to give us a proper answer as to how high the tax will be. The government estimated 3.5 billion this autumn, and it is no wonder that we then have protests along the entire coast when we see the significance this will have and that the tax burden is 4-5 times as high. Helge Orten, parliamentary representative for the Conservative Party. Photo: Øyvind Berge Sæbjørnsen / news This is what Helge Orten, parliamentary representative for the Conservative Party and member of the finance committee, says. He believes the calculation shows a lot of money being put into the treasury rather than investments in jobs along the coast. – The government’s tax system leaves little for investment and development of an important industry, says Orten. He emphasizes that the Conservative Party believes there is a basis for the fishing industry to contribute more, but that it should be done in other ways than what the government proposes. – This should be a wake-up call for the government. We believe they should restart the whole process and consider the alternatives that emerged in the consultation input, says Orten. – Indicates good profitability Geir Pollestad, parliamentary representative for the Center Party and member of the finance committee, on the other hand, believes that the fivefold figure is a new argument that the salmon tax should be introduced. – It shows that the earnings in the industry are very high, and that it is right to introduce an additional tax on the aquaculture industry, he says. Geir Pollestad, parliamentary representative for the Conservative Party. Photo: Bjarte Johannesen / news The parliamentary representative believes that the industry will still have good opportunities for investment, even if they pay salmon tax. – The industry gets to keep a significant portion itself, and the municipalities and state also get a share of the industry’s profits, says Pollestad. Nevertheless, he believes that the tax revenues for 2023 will be somewhat lower than the ministry estimates, and reckons that the calculation is slightly behind the production cost. The government shall not use the figure from the Ministry of Finance’s calculation in its planning of the salmon tax. Negotiations on the government’s proposal are now in full swing in the Storting. The matter must be submitted by the finance committee by 16 May at the latest.
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The Ministry of Finance estimates that the government can earn 16-17 billion from the salmon tax in 2023 – news Troms and Finnmark
