(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 20. Tax exemptions willbe applied in Azerbaijan in connection with COP29, Trend reports.
The issue was reflected in the amendment to the Tax Codeproposed by the Azerbaijani Parliament.
According to the amendment, based on the supporting document ofthe body (institution) established by the relevant executiveauthority, the income of non-resident individuals involved in thesupply of goods, works, and services in connection with the 29thsession of the Conference of the Parties to the United NationsFramework Convention on Climate Change (COP29) in Azerbaijan shallbe exempt from income tax for 9 months starting on March 1,2024.
This November, Azerbaijan will host COP29. This decision wasmade at the COP28 plenary meeting held in Dubai on December 11 lastyear. Baku will become the center of the world and will receiveabout 70–80,000 foreign guests.
The United Nations Framework Convention on Climate Change is anagreement signed at the Earth Summit in Rio de Janeiro in June 1992to prevent dangerous human interference with the climate system - the Conference of the Parties- is the highest legislativebody overseeing the implementation of the Framework Convention onClimate Change. 198 countries are parties to the Convention. Unlessthe parties agree otherwise, the COP is held annually. The firstCOP event took place in March 1995 in Berlin, and its secretariatis located in Bonn.
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