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Taxation of aquaculture – a country overview

Taxation of aquaculture – a country overview

KPMG's Taxation of Aquaculture report presents a country overview of aquaculture taxation rules in countries with the highest salmon farming production in the world, in addition to countries with future potential for large salmon farming production.



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Aquaculture is a fast-growing business, with farming of a large number of different species taking place all over the world. Atlantic salmon probably has the highest level of industrialization of all farmed aquatic species. Salmon farming has been quite profitable over the past few years and there are several large players, some of which are listed companies, multinational companies or both. In addition, there is an increasing focus on the environmental consequences of aquaculture. This has drawn the attention of the tax authorities and in some countries such as the Faroe Islands and Iceland special tax regulations for aquaculture companies have already been implemented or are about to be implemented. Other countries are also considering to increase the taxation of aquaculture companies, such as e.g. Norway, where a special commission is currently analyzing among others potential introduction of resource rent taxation for aquaculture companies.

On the other hand, there are countries such as e.g. China, where aquaculture companies are subject to corporate income tax on 50% of the taxable income. That results in 50% tax reduction for as long as the scope of the business is marine and inland aquaculture.

This report intends to present a brief country overview of taxation of aquaculture. KPMG is a leading advisor to the aquaculture industry, providing assistance through our global network. For detailed information, please do not hesitate to contact our global team of specialists on taxation of aquaculture. Contact details can be found in the contact list at the end of the report.

Please find the latest version of the report in the link below.

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