Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
  • inderesTV
  • Forum
  • About Us
    • Our Coverage
    • Team
Regulatory press release

Bakkafrost: Changes to the Revenue Tax on salmon farming in the Faroe Islands passed through parliament

Bakkafrost
Read the release

With reference to the previous press release from Bakkafrost on 9 March 2023 mentioning expected changes to the Revenue Tax in the Faroe Islands. (ref. NewsWeb (oslobors.no) (https://newsweb.oslobors.no/message/584828))

Today the Faroese Parliament has passed a proposal to adjust the revenue tax for the salmon farming industry, effective from 1 August 2023.

A total of 9 different tax rates can be applied, dependent on the difference between the monthly FishPool Index prices and the average production cost for the Faroese salmon industry. The average production costs will be assessed twice a year. The applicable tax rate range from 0.5% to 20.0%.

The tax rates are as follows:

FishPool Index Price (P)
Cost of production (C)         Tax Rate
(all in DKK)

P    <  C                         0.5%
C    <= P < C+5                   2.5%
C+5  <= P < C+15                  5.0%
C+15 <= P < C+20                  7.5%
C+20 <= P < C+25                 10.0%
C+25 <= P < C+30                 12.5%
C+30 <= P < C+35                 15.0%
C+35 <= P < C+40                 17.5%
P    >  C +40                    20.0%

Contacts:
  • Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 (mobile)
  • Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 23 50 60 (mobile)

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.