Iceland’s salmon farms face the world’s highest tax burden

Salmon farming companies in Iceland face higher taxation than those anywhere else in the world, mbl.is reported, citing remarks made at an aquaculture conference on Tuesday.

Dag Sletmo, an analyst at Norwegian bank DNB, said the bank generally avoids commenting on tax matters. But he said the operating environment for farming companies must allow them to grow and give investors reason to finance that growth.

A bill for a new comprehensive aquaculture law, which was not passed by Parliament in its last session, was described as a step in the right direction. However, it would still have left farming in Iceland uncompetitive with other countries because of its tax burden, the conference heard.