Azerbaijan Views Proposals For Environmental Taxes
Date
5/22/2024 8:10:16 AM
(MENAFN- AzerNews)
Nazrin Abdul Read more
Proposals for the introduction of environmental taxes are set tobe prepared in Azerbaijan, announced Samira Musayeva, Deputy Headof the State Tax Service at the Ministry of Economy, Azernews reports.
Musayeva noted that environmental taxes are commonplace in mostcountries worldwide: "With Azerbaijan hosting the 29th session ofthe Conference of the Parties to the United Nations FrameworkConvention on Climate Change (COP29) this year, there is a pressingneed for tax reforms that promote environmental sustainability inAzerbaijan. As the State Tax Service, we will engage in extensivediscussions with the public and formulate proposals aimed atintroducing environmental taxes and implementing reforms conduciveto an ecologically sustainable economy."
It's worth mentioning that environmental taxes are typicallyimposed on enterprises operating in sectors with adverseenvironmental impacts, and they are already in place in variouscountries, including the European Union, the USA, Russia, andothers.
Additionally, Musayeva outlined forthcoming innovationsconcerning the registration of foreign-invested commercialinstitutions in Azerbaijan.
"As part of our efforts, we plan to broaden the coordinationscope of databases among state bodies involved in the registrationprocess and establish technical capabilities for maintaining theregister of beneficial owners. Furthermore, we aim to proactivelymanage subsequent changes in registered data for commercialentities, such as alterations in founders and managers,facilitating registration processes," she said.
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