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POA Decision – 2000/11/14-02 – Methods for Calculating Assessments in the Fishing Industry

The Panel of Administrators approved a change to the way in which the Board calculates assessments in the fishing industry. Previously the Board calculated assessments in three ways. Where commercial fishers are paid by wages and salaries, assessments were calculated on the total wages and salaries. Where fishers are paid by settlement, assessments were calculated on the gross crew share. Finally, where fishing costs were unknown, assessments were estimated on 60% of the landed value of the fish sale. The Board will continue to allow the use of these three assessment methods. However, the Board will now standardize the treatment of fishing licence lease costs in fish settlements. Beginning in January 2001, the Board will allow 40% of the value of a fishing licence lease to be deducted as expense, and assessments paid on the remaining 60%. In addition to the new policy on fishing licence lease costs, the Panel of Administrators approved continued consultation with the fishing industry with a view to examining the current assessment methods and recommending changes, where necessary.

Meeting Date: Nov 14, 2000 File type: PDF (2 MB) Asset type: Policy & Regulation Decision