Norway’s salmon industry calls for revaluation of licences

Norway’s two main seafood employer organisations have approached the government, calling for a new valuation of farming licences for this year.

Seafood Norway (Sjomat Norge) and Seafood Companies (Sjomatbedriftene) believe the current rules are unclear and have caused headaches for businesses and their auditors.

They believe there is an obvious need to put in place new and clearer guidelines.

Geir Ove Ystmark , CEO of Seafood Norway and Robert Holmøy Eriksson, managing director of Seafood Companies, jointly highlighted the Centre Party’s national board request that “…government ensure that the valuation of farming permits as a basis for wealth taxation does not affect locally owned companies disproportionately”.

They said: “We have always been concerned that the valuation of the farming licences as a basis for wealth taxation must ensure that the total tax burden does not affect the privately owned companies disproportionately, and that the diversity of ownership in the aquaculture industry is maintained. “

“We are therefore happy with the decision of the central government in the Centre Party, and think this is a wise decision, Eriksson added.

Ystmark said there was little doubt there had been so-called value-reducing conditions this autumn.

He added: “The fact that you have a very unclear set of regulations that no one understands how to practice, and that at the same time you transfer the entire discretionary assessment to the actors is very problematic.

“Here we can experience as many different judgments as there are privately owned companies. There is therefore an obvious need for us to quickly put more clarifying guidelines in place.”

The two organisations had previously approached the Ministry of Finance calling for change, but so far they had met with little response.

“Seafood Norway and the Seafood Companies have now again asked the ministry and the Directorate of Taxes to sit down with the industry, and the auditors to come up with a template rule.

“Such a rule must be in place well in advance of the tax determination for 2022. We have clear expectations that we will quickly get started with this work, and that we will soon be invited to talks,” the joint statement concluded.