Norwegian Government Proposes 35% Resource Rent Tax on Aquaculture

The Norwegian government has issued a release on a proposal for the introduction of a 35% resource rent tax on aquaculture (fish farming). The primary features of the proposal are summarized in the release as follows:

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The primary features of the Government's proposal

The design of the resource rent tax:

• The tax will be structured as a cash-flow-tax with immediate deductions for investments that are only used during the sea phase.
• The effective tax rate shall be set at 35 per cent, …