Finland Tax Agency Updates Guidance on Taxation of Compensation Received due to Eminent Domain

The Finnish Tax Administration March 7 posted online updated Guidance No. VH/7875/00.01.00/2024, on the taxation of compensation received due to takings under eminent domain. Topics covered include: 1) under the Redemption Act, compensation payable is divided into object compensation, inconvenience compensation, and damages; 2) property transfers or its permanent right of use; 3) transfer of temporary use rights; 4) permanent restrictions on the use of property, as well as permanent disadvantages; 5) temporary restrictions on the use of property; and 6) compensation for the depreciation of property. The guidance is valid from March 6 and replaces Guidance No. A224/200/2016. [Finland, ...