“The death of the resource rent tax provides a visible future”

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Mowi sighs in relief after the Norwegian Government scrapped the proposal for a resource rent tax on farmed salmon off the table.

“This is a very welcome proposal for the industry and for Mowi Norway. The death of the resource rent tax provides a visible future. Not just for the upcoming auction, but also future investments and development,” says CEO Ivan Vindheim of Mowi to TDN Direkt Wednesday.

Read also: Norwegian government scraps salmon farm resource rent tax

Vindheim states that they do not wish to welcome a cost increase following the drastically negative cost increase in Norway, but compared with the resource rent tax it is “like night and day”.

Mowi has struggled with a high level of costs for the 2018 generation in all regions of Norway that affected the first quarter of 2020, and costs are expected to remain relatively high in the second quarter as the same generation will be harvested.