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The final details surrounding Norway's new aquaculture tax were announced by the Norwegian government on May 25.

In the updated proposal, the tax rate will be set at 25 percent, which is lower than the 35 percent proposed in March, and below the 40 percent proposed in the initial proposal which was first announced in September last year.

Other details on the updated proposal include an increase in wealth tax to 75 percent from 50 percent, and that host municipalities and counties are guaranteed a higher income from the Aquaculture Fund for 2023.