Paragraph 2

In accordance with this Law, the export levy on fish products shall be applied as follows:

1. 1..

   A levy of 2 300 Icelandic Crowns per ton shall be applied to exports of frozen fish fillets, frozen fish roes, salted whitefish, salted fish fillets, belly of salted cod, salted fish roes not elsewhere specified, salted fish bits, salted and frozen fish tongues, stockfish, dried fish heads, shellfish and preserved fish products in hermetic containers.

   Should the levy applied under this Article exceed 4·5 % of the f.o.b. value of the fish products in question, the Ministry of Fisheries may decide to abolish the part of the levy which is in excess thereof.

2. 2..

   A levy of 3 % of the f.o.b. value shall be applied to exports of whole frozen fish, frozen fish waste, frozen Norway lobster, frozen shrimp, frozen capelin, capelin meal, capelin oil and hydrogenated cils and fats from fish or marine mammals.

3. 3..

   A levy of 5 % of the f.o.b. value shall be applied to exports of whale products other than preserved in hermetic containers.

4. 4..

   A levy of 6 % of the f.o.b. value shall be applied to exports of fish meal, redfish meal, Norway lobster meal, shrimp meal, liver meal, codliver oil, redfish oil, whole frozen herring, frozen herring fillets, salted herring, salted herring fillets, salted lumpfish roes and other fish products not specified in this Article.

   500 Icelandic Crowns per 100 kg of contents may be deducted from the f.o.b. value of salted herring and salted lumpfish roes to cover packing costs.

5. 5..

   A levy of 7 % of the f.o.b. value shall be applied to exports of fresh and chilled fish.

   The Ministry of Fisheries may, however, decide that they levy on fresh or chilled herring shall be equal to that which would have been applicable had the herring been processed in Iceland by the same method as it to be used abroad (see points 4 and 6 of this Article).

6. 6..

   A levy of 8 % of the f.o.b. value shall be applied to exports of herring meal, herring solubles and herring oil.

7. 7..

   Seal products are not subject to the export levy.

   For the purposes of point 1, uncooked preserved products in hermetic containers shall mean uncooked preserved products ready for consumption in hermetic containers of 10 kg net or less. Fully processed uncooked products in larger containers shall also be regarded as uncooked preserved products in hermetic containers if the exporter supplies proof that the value of the unprocessed product is less than one-third of the export value of the exported products.

   Where Icelandic vessels sell, in foreign ports, fresh or processed fish products caught by their own or other vessels and subject to this levy, the said levy shall be applied on the gross value of such sales, less customs duties and other unloading and sales charges, in accordance with rules issued by the Ministry of Fisheries.