Government Announces Changes To Fishing Fees

On March 25, Minister of Industries and Liberal MP Hanna Katrín Friðriksson and Finance Minister Daði Már Kristófersson announced changes to the current fishing fees, RÚV reports.

In a press meeting, the ministers claimed that last year’s fishing fees accrued ten billion ISK into state coffers. Under the new legislation, they could amount to 18 to 20 billion.

According to the changes, fishing fees will be based on the fish markets’ average prices. The fiscal performance of Icelandic fisheries demonstrates that a higher fee is attainable. At the meeting, Hanna claimed that the earnings will be put towards infrastructure improvements in rural areas.

Both the Confederation of Icelandic Enterprise and Fisheries Iceland (SFS) have expressed their doubts concerning the change. SFS argues that jobs and fisheries operations will leave Iceland.

Fishing fees (veiðigjöld) are the expenses every owner of a fishing ship must pay when hauling in their catch of fish. The fee is calculated based on the haul’s weight in kilograms.