Norwegian government makes U-turn on details of salmon farming tax, but some still fear its too late to save contracts

The Norwegian salmon tax will be based on the actual price for which salmon farmers sell their products during 2023, rather than Nasdaq’s average spot price for salmon as first proposed in September when the Norwegian government announced a new 40 percent tax on salmon producers.

Norway's Finance Minister Trygve Slagsvold Vedum highlighted the updated details to the government's aquaculture tax proposal earlier this week in a letter to the Parliament.

"For 2023, the actual sale price will be the starting point for the tax, but companies must prove to a standard price council that the figures are correct," Vedum said.