Norway’s Conservative Party has proposed significant reforms to the country’s aquaculture tax system, with plans to lower the current 25% cash flow tax and simplify the overall framework.
This was confirmed by party deputy leader Henrik Asheim, who has overseen the development of the party’s new program. The proposed changes aim to create a more predictable, understandable, and less bureaucratic tax structure to support the industry’s growth.
“Our main goal is to establish a tax system that promotes growth by making it more predictable and easier for the aquaculture industry along the entire coast,” Asheim told NTB.
The current system, introduced by the Støre government, has led to increased costs and uncertainty for the sector. A report by Sjømat Norge indicated that consultancy expenses nearly doubled since the introduction of the tax, and investments in the industry have slowed significantly.
However, the Conservative Party also emphasized that any tax cuts will be accompanied by stricter requirements for sustainability and animal welfare in the sector.
“The time saved by not dealing with complex tax regulations can be better spent developing more sustainable fish production systems,” Asheim added.
Sjømat Norge welcomed the proposal but emphasized that further changes are necessary to make the tax less harmful to the industry. “We support reducing the tax rate and eliminating the bureaucratic standard price council,” said Geir Ove Ystmark, CEO of Sjømat Norge.
