-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
from 2023.
Specific bills must be submitted to the Parliament for examination and approval before implementation
.
In the coming years, the growth of the Norwegian government budget will far exceed the economic revenue growth potential
.
The government has only two options: either drastically cut social benefits, such as pensions, health care, policing and elderly care costs; Or increase taxes
.
.
The government has only two options: either drastically cut social benefits, such as pensions, health care, policing and elderly care costs; Or increase taxes
.
Norwegian Prime Minister Jonas Gahr Store said, "Over the years, social inequality has increased, and it is necessary for the government to make more contributions
to those who have the most resources and have gained more.
" An important part of this is ensuring that the value of natural resources is more equitably distributed
.
”
to those who have the most resources and have gained more.
" An important part of this is ensuring that the value of natural resources is more equitably distributed
.
”
The Norwegian government believes that the country's power companies and aquaculture enterprises make hundreds of billions of dollars in profits from socially shared resources, and by increasing the tax rate on aquaculture, wind power and hydropower, the government will increase taxes
by about 33 billion NOK (3.
06 billion USD) per year.
by about 33 billion NOK (3.
06 billion USD) per year.
The government's proposal to raise taxes has provoked a strong reaction from the capital market, and on September 28, the shares of seven listed companies in Norway plummeted, falling from 18% to 30%, and the market value evaporated by 35 billion NOK
.
.
Mowi, the world's largest salmon producer, pointed out that if the above bill is approved by Parliament, the new tax will come into effect from 2023, and the total tax rate of salmon trout farming companies producing more than 4,000-5,000 tons will be as high as 62% (the current Norwegian law imposes a 22% tax rate on farming enterprises).
Nils Thommesen, an analyst at Norwegian brokerage firm Fearnley Securities, believes that small producers will be exempt from tax hikes due to production restrictions, but large and medium-sized companies are expected to see a 30-50% decline in 2023 guidance yields per share, which will obviously affect Austevoll, Grieg Seafood, Leroy Seafood Group, Masoval, Mowi, Norway Royal Valuations
of Salmon and SalMar.
In simple terms, producers with a large share of the farming business in Norway (e.
g.
SalMar and Leroy) will have a greater EPS impact than those with relatively dispersed international operations (e.
g.
Mowi), and Bakkafrost of the Faroe Islands has no farming assets in Norway and is therefore not subject to resource taxes
.
of Salmon and SalMar.
In simple terms, producers with a large share of the farming business in Norway (e.
g.
SalMar and Leroy) will have a greater EPS impact than those with relatively dispersed international operations (e.
g.
Mowi), and Bakkafrost of the Faroe Islands has no farming assets in Norway and is therefore not subject to resource taxes
.
Linda Litlekalsoy Aase, CEO of SalMar, a large Norwegian producer, said in an interview with Salmon Business: "Today (September 28th) is certainly not a good day
.
Government tax increases are bound to significantly weaken the Norwegian salmon industry, which is not creating new jobs but against the industry as a whole, which will also have a major negative ripple effect on all related industries and jobs in the aquaculture industry, with serious consequences
.
”
.
Government tax increases are bound to significantly weaken the Norwegian salmon industry, which is not creating new jobs but against the industry as a whole, which will also have a major negative ripple effect on all related industries and jobs in the aquaculture industry, with serious consequences
.
”
"We are a region-based industry that has always been at the bottom line of development and investing
.
What we do is food production, not the consumption of natural resources
.
Now that we need to brainstorm and develop a response plan, the salmon industry is facing its biggest challenge
ever.
Aase said
.
.
What we do is food production, not the consumption of natural resources
.
Now that we need to brainstorm and develop a response plan, the salmon industry is facing its biggest challenge
ever.
Aase said
.
Norwegian producer Grieg Seafood said, "The company will carefully assess the impact of the tax increase proposal on the Group's business and strategy, and the Group will suspend investment
in new projects in Norway until it is formally adopted.
" ”
in new projects in Norway until it is formally adopted.
" ”
Due to the tax changes, the auction of Norwegian salmon farming licenses was postponed to 16 October
.
.
