February 4, 2023

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Store visited the salmon industry: – More than 100 percent tax

At LØVEN’S CAVE: Managing Director Svein Gustav Sinkaberg shows Støre around the company, which produces 4,000 tonnes of fish per day.

RØRVIK (VG) Agricultural company SinkabergHansen in Rørvik in Trøndelag told the Prime Minister Store on Tuesday that they would receive more than 100 percent tax if the government’s salmon tax plan is introduced. Storr asked for it.

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When Jonas Kahr Storr visited the salmon lion’s den in Trendelák on Tuesday, he came across the agricultural company SinkabergHansen AS.

As he entered the meeting room overlooking the harbor, about 30 fishing boats flashed their lights and honked their horns in protest.

Met the management and staff.

Demonstration: Fishing boats of all sizes were waiting when the store arrived at Rorvik.

– We figured it out. In 2021, 85 percent tax was levied. By 2022, we are aiming for more than 100 percent tax, probably 110 percent tax. Managing director Sven Gustav Singaberg said that no further investment can be made through this. He says that the so-called Fixed price Taxing income they don’t have.

– We believe that our proposal is correct, but understand that any new tax or rent like this will meet with criticism from those of you who are part of it. It is a proposal submitted for consultation and we will hear objections, Storr said.

RED: LO union representative Mette Bratton (TV) said she feared having to sell the house.

Mette Bratton, chief store manager at LO conglomerate NNN, challenged the store.

– Should we sell our houses? I have two sons and it is scary to go without a job, she said.

Dove Johansen has been with the company for 35 years and has worked with more processing.

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– It is clear that we are afraid of losing our jobs.

Camilla Morrow has only been with the company for four years.

Election: Camilla Marrow is clear about who she won’t vote for.

He says neither Ap nor Sp got his votes.

– No, that won’t happen. Ap and Sp don’t get my vote.

Walk around the store and ask for employee input.

He understands the fear, but said they will work on solutions that provide more investment and jobs.

– We will try to land this in the best possible way, he promised.

– Rent

– We are in a consultation process, it is real. We will emphasize input, Storr tells VG after the meeting.

– Based on the efficient business practices of both management and employees, we believe that it is right, just and possible to tax basic interest on aquaculture in line with the large profits the industry has earned, Storr says. Salmon companies reap the natural benefits that the Norwegian coast has to offer.

– As with oil and gas extraction, it is a tradition that a portion of the profit is shared. Land interest tax is not interest, but rent of land, to which the society is entitled.

Storr says this only applies when there is a surplus.

– If a company runs a deficit, they are exempt, and for small growers, it is the minimum exemption, which means they are exempt, says Storr.

Minimum exemption has been hotly debated. Among others, Hanne Lundberg at the family business Gradanlogs told VG last fall. They are fooled around.

Many of the country’s leading fish analysis organizations believe that promises to protect small fish have not been fulfilled.

– The minimum deduction has been heavily criticized as many people feel that they will be taxed even though it is guaranteed to be protected by the minimum deduction?

– Storr replied that this is one of the questions you have to address at the trial.

One of the central topics of controversy is which price for fish should be used as a base. The industry has come under fire as the authorities set prices based on the Nasdaq fish exchange.

– The actual price should be used as a basis, says Storr.

– What is the real price?

– It is the price of the fish when it is caught and sold. Nasdaq was used as a reference price. The industry says that it will never be beaten. I agree that it is unfair to be taxed for wrong quality and price. The government will ask for it. Here we work with industry to find solutions.

Salmon met with staff: Storr heard many staff fear they could lose their jobs as a result of the government’s proposal for a salmon tax. He listened and promised to work to find solutions that would alleviate the fears.

Finance Minister Trygve Slaksvold Vedum (SP) has sent a letter to the Storting in which he confirms his desire to find a solution together.

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– Finance Minister allows introduction of a control to ensure real prices are used, says Storr.

– The plan should be in force on January 1, the plan should be introduced on January 4, but it will be implemented in Storting first in the spring. Do you understand those who say it is illogical?

– It is customary to levy taxes on the first day of the New Year. The proposed proposal contains important features. So the government’s aim is to bring about adaptations and broad consensus.

Great sounds

Salmon company Movi has calculated that it could lose future investments in Norway, and says that future investments will be diverted abroad if the government does not act.

“The overall tax burden for more than 80 percent of growers makes it impossible to invest in growth and create new jobs in the future,” they write in their advisory response.

GIGANT: Mowi CEO Ivan Vindheim warns that they want to invest abroad, not in Norway.

– When Mowi cannot financially secure the establishment of a new plant with the new tax plan, there is a problem for the aquaculture industry and Norway. Salmon farming is not location-specific, and the consequences are that growth that should have occurred in Norway is moving overseas – with 97 percent of Norwegian salmon exported, countries close to key markets are a priority, said Movi CEO Ivan Windheim. The answer to their advice was obvious.

Storr argues that investing in salmon farming in Norway may not be profitable.

– There will be many accusations and plans. I will note them down. The Norwegian coast and seas are an excellent starting point for aquaculture. Investing in Norwegian aquaculture can be profitable – even for large companies.

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