Geir Ove Ystmark, the CEO of Norwegian Seafood Federation Sjomat Norge, has described the government's updated salmon tax proposal as "disappointing."

Details surrounding Norway's new aquaculture tax were finally announced by the Norwegian government on March 28.

In the updated proposal, the effective tax rate will be set at 35 percent, which is lower than the 40 percent proposed in the initial consultation period.

Despite the tweaks made by the government, the CEO of the trade group was highly critical of the tax proposal, blaming the government for the cancellation of NOK 45 billion (€3.9