Norwegian bank DNB expects tax on salmon farming industry to be significantly lower than proposed

Norwegian bank DNB said Monday it expects the new aquaculture tax on Norway's salmon farmers will end up significantly lower than expected. The news sent farmed salmon shares prices higher on the Oslo Stock Exchange as investors welcomed the news.

In an analysis released by its brokerage arm, DNB said comments from government officials on the total amount the tax -- between NOK 3.65 billion (€334 million/$365 million) and NOK 3.80 billion (€352 million/$385 million) -- would put the percentage at 15 percent, not 40 percent as originally proposed.