Azerbaijan To Implement Tax Incentives For Environmental Improvement Projects
Date
9/19/2024 5:20:31 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 19. Tax incentives
will be applied in Azerbaijan for projects aimed at environmental
improvement and renewable energy production, the head of the
Department for monitoring legislation and working with business
entities of the Main Department of Tax Policy of the Tax Service
under the Ministry of Economy of Azerbaijan, Ahmad Ahmadov, said at
the VIII Eurasian Forum of Accountants and Auditors, Trend
reports.
“In the near future, within the framework of the green energy
strategy, additional economic tools will be applied to incentivize
businesses that are engaged in environmental activities and
contribute to the improvement of the environment. In particular,
tax incentives will be provided for companies actively involved in
the production of energy from renewable sources, as well as for
foreign investors interested in such projects,” Ahmadov noted.
According to him, tax incentives will be an important element in
encouraging investment in this area.
“The Tax Service has been studying international experience in
recent years on the introduction of carbon footprint assessment
tools and other measures aimed at achieving national environmental
goals,” he added.
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