UPDATE on Revenue tax on salmon farming in the Faroe Islands
With reference to the press release from Bakkafrost on 30 September 2022 mentioning expected changes to the Revenue Tax in the Faroe Islands. (ref. NewsWeb (oslobors.no) ) The recently elected Faroese Government has announced their proposal to adjust the revenue tax for the salmon farming industry, effective from 1 August 2023, if passed as is by the Parliament. The proposal is currently out for hearing with the salmon farming industry until 16 March 2023. Parallel hereto, the opposition has also re-proposed their original proposal they put