Norway Scraps Aquaculture Price Council After Industry Pressure
Norway's parliament voted to abolish the Aquaculture Price Council last week, ending a controversial taxation mechanism that the salmon farming industry had long criticized.
Seafood Norway CEO Geir Ove Ystmark called the Storting's decision "correct and long-awaited," arguing the council applied petroleum and hydropower tax models unsuitably to aquaculture. The council set theoretical monthly benchmark prices for determining taxable revenues, but Ystmark said this created a "theoretical average tax that attempts to find a market price that does not actually exist...
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