Azerbaijan introduces tax incentives for renewable energy projects
Nazrin Abdul
Read moreTax incentives will be implemented for projects aimed at improving the environment and producing renewable energy in Azerbaijan, Azernews reports.
Ahmad Ahmadov, Head of the Department of Legislation Monitoring and Business with Entrepreneurial Subjects at the State Tax Service's Tax Policy Department under the Ministry of Economy, announced this at the VIII Eurasian Forum of Accountants and Auditors.
"In the near future, additional economic tools will be introduced to stimulate businesses engaged in environmental health and ecological activities as part of the 'green' energy strategy. In particular, tax concessions will be offered to companies actively participating in renewable energy production, as well as to foreign investors interested in such projects," Ahmadov stressed.
According to him, tax incentives will be a crucial element in increasing investments in this area.
"In recent years, the Tax Service has explored international practices to implement carbon footprint assessment tools and other measures aimed at achieving national environmental goals," he added.
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