Azerbaijan Eyes Green Economy With New Tax Incentives And Carbon Pricing Evaluation
(MENAFN- AzerNews)
Nazrin Abdul
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The government of Azerbaijan believes that ensuring sustainable
economic development and transitioning to a climate-based "green
economy" in the country involves more than just implementing
aggressive taxation policies or additional taxes on businesses. It
also includes promoting taxes related to the use of renewable
energy sources and "green technologies."
This was stated by Deputy Head of the institution, Samira
Musayeva, at the conference on "The Role of Small and Medium
Business in the Green Economy," held in Baku with the support of
the Ministries of Economy, Ecology and Natural Resources and
organized by the Small and Medium Business Development Agency,
Azernews reports.
"In the tax reforms of the last five years, we have introduced
several tax incentives to support the transition to a 'green
economy.' These incentives are not only related to consumer
vehicles, such as electric cars and their chargers, but also to the
transition of industries to renewable energy. Additionally, we are
evaluating the implementation of carbon taxes and carbon pricing,
considering their potential negative effects on industries. We are
studying international experiences and discussing the challenges
they present to determine the most suitable taxation policy for our
country," she said.
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