Skip to main content

Lerøy Seafood Group ASA: Proposal on resource tax

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

The Norwegian Government this morning, 28 September 2022, issued a press release available at www.regjeringen.no whereby it is proposed to introduce a resource tax on salmon and trout farming of 40% for volumes above 4-5,000 tonnes. The tax is proposed with effect for 2023 and must be approved by the Norwegian parliament “Storting”. According to the press release, the proposal if approved, will give a marginal tax rate on farming of salmon and trout of 62%.

The Board and management in LSG are in the process of assessing the proposal but do not have a complete overview yet. However, the proposal is undoubtedly hostile to the industry. If approved, it will have a strong negative impact on the entire industry, unless decision makers at the “Storting” and people along coastal Norway manage to stop the proposal following the ongoing consultation period.

 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.