Bloomberg Tax
May 25, 2023, 1:02 PM

Norway Salmon Stocks Jump as Compromise Deal Struck on Tax (1)

Jonas Cho Walsgard
Jonas Cho Walsgard
Bloomberg News

The Norwegian government reached a deal with minor parties to secure a parliamentary majority for a less onerous proposed tax on salmon farmers, sending aquaculture stocks surging.

Under the agreement, the effective tax rate will be lowered to 25% from the 35% proposed by the government, the parties said in an email Thursday. The agreement also includes increasing a rebate on a wealth tax for farming licenses to 75% from 50%.

The compromise with the Liberals and Pasientfokus means that the governing Labor and Center parties will avoid having to cut a more burdensome deal with the Socialist Left. ...

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