{"id":15612,"date":"2022-09-29T00:14:29","date_gmt":"2022-09-29T00:14:29","guid":{"rendered":"https:\/\/teknomers.com\/en\/will-get-an-extra-nok-33-billion-from-power-and-salmon-news-norway-overview-of-news-from-various-parts-of-the-country\/"},"modified":"2022-09-29T00:14:30","modified_gmt":"2022-09-29T00:14:30","slug":"will-get-an-extra-nok-33-billion-from-power-and-salmon-news-norway-overview-of-news-from-various-parts-of-the-country","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/will-get-an-extra-nok-33-billion-from-power-and-salmon-news-norway-overview-of-news-from-various-parts-of-the-country\/","title":{"rendered":"Will get an extra NOK 33 billion from power and salmon – news Norway – Overview of news from various parts of the country"},"content":{"rendered":"\n

The government will introduce ground rent tax on aquaculture and wind power. At the same time, they increase the tax rate for hydropower and introduce an extraordinary tax on hydropower and wind power due to the very high electricity prices. In this way, the government will increase the amount in the tax coffers by around NOK 33 billion annually. – In many cases, many have received more and they must contribute more to the joint team. The community gets bigger tasks and needs new income. I want to emphasize that we are in an enormously demanding time, says Prime Minister Jonas Gahr St\u00f8re (Ap). Together with Finance Minister Trygve Slagsvold Vedum (Sp), he called the press conference on Wednesday morning at the Blaafarvev\u00e6rket in Modum in Buskerud. St\u00f8re says that the community needs greater income in the coming years, and that it is not appropriate for the government to cover the costs with large cuts. Political commentator Lars Nehru Sand on the tax change Mayors along the coast have warned against taxing the farming industry, and Sj\u00f8mat Norge is reacting strongly to the new lake tax. – I think that the Center Party is turning off the lights along the coast and that it is a gift package for our competitors abroad, says Geir Ove Ystmark, director of Seafood Norway to news. These are the most important proposals: Introduce ground rent tax of 40 per cent in aquaculture: NOK 3.65\u20133.8 billion annually. Increase the basic interest tax on hydropower from 37 to 45 per cent: NOK 11.2 billion annually. Guarantees of origin for hydropower: NOK one billion annually. 40 per cent basic rent tax on onshore wind power: NOK 2.5 billion annually. High-price subsidy for wind and hydropower: NOK 16 billion annually. Fixed price agreements for electricity: NOK 1.2 billion annually. Several municipalities and county councils have high incomes from the sale of licensed power, and the government will also collect more money from these. The government is proposing a one-year draw of a total of NOK 3 billion in 2023 from municipalities and county councils that have income from licensing power, and which are located in the areas with the highest prices. They write in a press release that with this the government plans to share part of the income from licensing power with the community. Finance Minister Trygve Slagsvold Vedum (Sp) and Prime Minister Jonas Gahr St\u00f8re (Ap) during Wednesday’s press conference at Blaafarvev\u00e6rket. Photo: Terje Bendiksby \/ NTB There will be major consequences Deputy mayor P\u00e5l Morten Borgli in the power municipality Sandnes believes that the state is now robbing the local community of income. The municipality was expected to earn NOK 250 million from licensing power this year. – It goes beyond important investments in renewable energy. This is going against the flow, says the FRP politician. Borgli is also chairman of the company assembly in the energy group Lyse. They inform news that they will lose the entire profit if the increased taxes for hydropower are implemented. – We will have to pay NOK 3.2 billion more in tax due to the increase in basic interest taxation, says CEO Eimund Nygaard. CEO Eimund Nygaard in Lyse Photo: Syed Ali Shahbaz Akhtar This will have major consequences, according to Nygaard. The 14 owner municipalities in Lyse will now miss out on NOK 2.5 billion in dividends next year. From Western Norway to Eastern Norway, the municipality of Oslo is now counting hard on how increased tax on power will affect the economy in the future. Through Hafslund, Oslo municipality is Norway’s second largest power owner after the state. Next year alone, the city council has calculated a profit of NOK 2.5 billion. When asked how the tax cuts from the own government will affect, Oslo city council leader Raymond Johansen (Ap) replies in an SMS to news: – A lot. Very much. These are the proposals: Aquaculture: Ground rent tax Effective rate of 40 per cent. Applies to the production of salmon, trout and rainbow trout. A floor deduction of 4,000-5,000 tonnes ensures that only the largest players will pay the ground rent tax. Effective date from 1 January 2023. Tax revenues are estimated at NOK 3.65-3.8 billion annually. The tax revenue is distributed equally between the state and the municipal sector. The proposal is submitted for consultation today with a deadline of 3 January 2023. Hydropower: Higher ground rent tax Increase in effective rate from 37 to 45 per cent. Effect from income year 2022. Small hydropower plants do not pay ground rent tax and are therefore not affected by the proposals. Tax revenues are estimated at NOK 11.2 billion annually. Hydropower: Guarantees of origin Income from the sale of guarantees of origin is included in the ground rent tax base for hydropower from 2023. The tax income is estimated at around NOK 1 billion annually. Onshore wind power: Basic rent tax Effective rate of 40 per cent. Effective date from 1 January 2023. The ground rent tax obligation will apply to wind power plants that are subject to a licence. That is, wind power plants that have more than 5 turbines or an installed output of 1 MW or more. The tax revenue is estimated at around NOK 2.5 billion annually. The tax revenue is distributed equally between the state and the municipal sector. The proposal is submitted for consultation before the end of the year. High-price contribution for wind and hydropower: 23 per cent of the part of the price that exceeds 70 \u00f8re\/kWh. Based on actual prices and applies to all production in the power plant. Entry into force: Today (28\/09\/2022) for hydropower that is subject to ground rent tax The relationship with the Constitution’s prohibition of retroactivity has been thoroughly assessed and has been submitted to the Ministry of Justice’s legal department January 2023 for other hydropower and wind power The tax income from the high price contribution is estimated at around NOK 16 billion annually. Fixed price agreements for electricity – the contract exception in basic rent tax: This means that the basic rent tax for electricity sold through fixed price agreements is based on the actual income of the power producers, not the spot price. It is assumed that the electricity suppliers should be able to offer standardized fixed price agreements for periods of 3, 5 and 7 years, with a maximum price mark-up on the fixed price the suppliers pay to the power producers. The tax revenue is estimated on a very uncertain basis at approximately NOK 1.2 billion annually. Source: Regjeringen.no – Must pay to eradicate Norwegian nature – Finally, it is the end of the salmon barons getting everything they point to, says Marie Sneve Martinussen, Storting representative and deputy leader in R\u00f8dt. She says it is high time that the farming billionaires have to pay more to use Norwegian nature. The party believes it is positive that the government increases tax revenue. Natur og Ungdom also agrees. – That the salmon industry has to share some of the profit they get from making themselves rich by exploiting our common natural resources is completely logical, and about time, says Deputy Director of Natur og Ungdom Kaja Nyland. The tax package for the farming and energy industry led to a sharp fall for the farming companies on Oslo B\u00f8rs after opening on Wednesday. Photo: Gorm Kallestad \/ NTB On the other side, party leader of the Progress Party Sylvi Listhaug believes that this is an attack on the districts and coastal communities. – The aquaculture industry does not participate in a Norwegian championship, they participate in a world championship. And this will give them an additional handicap, she says. Sveinung Rotevatn in Venstre says that ground rent tax is actually a sensible way to tax, but only if you reduce other taxes at the same time. – What we are now seeing is that the business community as a whole is receiving a massively increased tax burden, and it affects widely along the coast. I hope the government will respond to that by lowering some other taxes, but I strongly doubt that, says Rotevatn. Drastic changes NHO director Ole Erik Almlid says these are dramatic changes. – What Norwegian companies need now is predictability. Instead, the government is introducing an upheaval of around NOK 33 billion that comes on top of already high taxes for business. New taxes to cover public expenditure exceed the ability to invest in important industries for Norway, he believes. This also undermines the green shift, believes Knut Kroepelien, head of Energi Norge. The government today came up with a tax package for the wind power industry. Here is the test area for Unitech Zefyros west of Karm\u00f8y. Photo: Anders Bakken Hekland – The renewable industry must now reconsider its renewable investments at a time when we need them most. Kroepelien says we risk prolonging and intensifying the ongoing power crisis. – We believe it is wrong to take in money that would otherwise be used to build more renewable energy, he says.
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