The Russian Federal Tax Service Aug. 15 clarified the taxation of compensation received by taxpayers for the confiscation of real estate. The tax agency clarified that: 1) the monetary compensation for the confiscation must include the expenses and losses incurred; and 2) the specific criteria for determining compensation include the market value of the real estate, the termination of the ownership right, and the losses and lost profits incurred due to the property confiscation. [Russia, Federal Tax Service, 08/15/22]
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