SalMar – Proposal for resource rent tax on aquaculture in Norway

Reference is made to the press release 28 September 2022 from the Norwegian government.

The Norwegian government proposes to introduce a resource rent tax on aquaculture of 40% with effect from the tax year 2023 for volumes above 4-5,000 tonnes. With this proposal, the total tax rate for aquaculture will be 62%. Please note that this is a proposal which must be approved by the Norwegian Parliament.

Commenting on the proposal CEO of SalMar Linda L. Aaase says:

This is a tax on aquaculture companies creating value and workplaces on the coast of Norway. A tax like this will have significant negative ripple effects for all adjacent industries of the aquaculture industry and the jobs it creates. SalMar will revert with additional information on the consequences of such taxation for our group operations once further details of the new tax have been clarified.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.