Finnish Government Advances Lower Property Tax on Offshore Wind

The Finnish government approved a proposal Thursday to lower property tax on offshore wind farms while starting to tax projects in Finland’s exclusive economic zone.

Subject to parliamentary approval, the proposal aims to encourage offshore wind power investments by aligning the tax burden more closely with onshore wind and clarifying tax rules for projects in the EEZ, which is located just outside Finland’s territorial waters.

The property tax basis for offshore wind turbines would drop to 35% of structural component construction costs while remaining at 75% for onshore.

Projects in the EEZ would pay both property and income taxes ...