Azerbaijan eyes green economy with new tax incentives and carbon pricing evaluation
Nazrin Abdul
Read moreThe 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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