Government presents its proposed bill for a resource rent tax on aquaculture

A bill proposing a resource rent tax on Norwegian aquaculture has been presented by government to parliament (Stortinget) for approval. The government’s new proposal remains similar to its initial proposition made in September 2022, although the resource rent tax rate is reduced from 40% to 35%.

In a press release, the Norwegian government explained the intention of the proposal is to ensure that local communities along the coast and that society as a whole will receive a greater share of the value created by the fish farming industry.

“We have a long tradition in Norway in which value that is created from using our common natural resources shall benefit society as a whole. Access to our common natural resources has enabled this industry to generate particularly high earnings. All of us should be able to derive greater benefit from the significant value that is created. It is now the time to introduce a resource rent tax for the aquaculture industry,” Prime Minister Jonas Gahr Støre said.