Menon has conducted an analysis on the taxation of aquaculture in Iceland on behalf of Fisheries Iceland (SFS). The objective was to deepen the understanding of how the recently proposed tax system reform in Iceland will affect the aquaculture industry, both in terms of revenues, value added and international competitiveness. The analysis presents a model that allows the reader to compare how the proposed tax structure affects the industry comparing the effects of alternatively applying the existing (current) tax structure in Iceland, a Norwegian tax model and the tax model of the Faroe Islands. The study considers all relevant aspects of the tax systems in each country, allowing comparisons to be as complete as possible.

The analysis is summarized in two reports, which can be read here and here.