Azerbaijan Portrays Tax Incentivization For Green Economy Development
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 9. The Azerbaijani
government is providing tax incentives for the development of a
green economy, in particular in the creation and use of renewable
energy sources and green technologies, Deputy Head of the State Tax
Service under the Ministry of Economy of Azerbaijan Samira Musayeva
said, Trend
reports.
She made the remark at the "Role of small and medium businesses
in the green economy" conference in Baku today.
"Over the past five years, Azerbaijan has introduced a number of
tax incentives aimed at supporting the energy transition. These
measures not only cover the construction of renewable energy
sources, but also the purchase of electric vehicles and their
charging stations, as well as the adoption of green technologies,"
noted Musayevа.
Meanwhile, she claims that the Ministry of Economy is looking at
the possibility of implementing carbon taxes and tariffs in light
of the harm caused by emissions of greenhouse gases.
"We work with the World Bank, Asian Development Bank, OECD, and
Harvard University on this. Azerbaijan wants a 'green' economy with
the right tax regulation and commercial incentives. Thus, worldwide
expertise will assist the government in creating a sustainable
taxation plan for economic growth," Musayevа explained.
The official also said that on a global scale, there is a lot of
buzz in the financial world about tools that can help cut down on
carbon dioxide emissions.
"Carbon-related fiscal actions accounted for seven percent
globally 10 years ago; now, it's three times higher. This indicates
that carbon pricing has become a very popular tool for achieving
greenhouse gas reduction goals. Financial instruments such as
carbon credit trading are essential for funding adaptation programs
to climate change worldwide," she added.
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