-
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
than Norway.
It is alleged that on September 30, the Faroese government issued a proposal for tax rate changes, including three main details of the change (below): 1) The price threshold range corresponding to the applicable tax rate was adjusted from 3 to 5; 2) Raise the tax rate corresponding to the salmon price threshold; 3) Link the price threshold to the cost of Faro farming and evaluate
it annually.
it annually.
From 2023 onwards, the proposed tax rate will be changed to:
· If the salmon spot price is lower than DDK 39.
15/kg (NOK 55/kg), the tax rate is 0.
5%;
15/kg (NOK 55/kg), the tax rate is 0.
5%;
· Salmon prices range from DDK 39.
15/kg to DDK 44.
15/kg at a rate of 2.
5%;
15/kg to DDK 44.
15/kg at a rate of 2.
5%;
· Salmon prices range from DDK 44.
15/kg to DDK 54.
15/kg at a rate of 5%;
15/kg to DDK 54.
15/kg at a rate of 5%;
· Salmon prices range from DDK 5415/kg to DDK 69.
15/kg at a rate of 7.
5%;
15/kg at a rate of 7.
5%;
· Salmon prices above DDK 69.
15/kg at a rate of 10%.
15/kg at a rate of 10%.
Prior to this, the maximum tax rate for Faroese salmon was 5%, with the new tax rate of up to 10%.
Nils Thommesen, an analyst at Norwegian firm Fearnley Securities, predicted that if the Faroe Islands implemented the new tax policy, Bakkafrost's yield per share would fall by 4-6% in the 2023-24 fiscal year, but Bakkafrost was previously affected by Norway by 16%.
Nils Thommesen, an analyst at Norwegian firm Fearnley Securities, predicted that if the Faroe Islands implemented the new tax policy, Bakkafrost's yield per share would fall by 4-6% in the 2023-24 fiscal year, but Bakkafrost was previously affected by Norway by 16%.
Thommesen said that based on the strong market foundation of the salmon industry, Fearnley Securities maintains a "buy" rating
on Bakkafrost stock.
on Bakkafrost stock.
