BAKU, Azerbaijan, February 15. It is important that Azerbaijan's tax policy encourages business enterprises to adopt green initiatives, Acting Minister of Ecology and Natural Resources of Azerbaijan, President of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) Mukhtar Babayev said during the forum Tax system in the new development period: strategic goals for sustainable economy held in Baku, Trend reports.
"The environmental factor in tax reforms has now become a powerful economic tool contributing to a sustainable transition around the world. Our tax policies must encourage business enterprises to adopt green initiatives, invest in sustainable energy projects, and support investors who apply clean technologies, create green growth, and utilize renewable energy sources. By offering tax relief and incentives to businesses that adopt environmentally friendly practices, we can facilitate the transition to a greener and more sustainable economy," he added.
To note, the forum "Tax System in the New Development Period: Strategic Goals for a Sustainable Economy" in Baku discussed new challenges in the field of tax administration. The forum exchanged views on the increasing role of tax authorities in economic regulation, priorities of business environment development, active participation of entrepreneurs in the formation of budget revenues, and building transparent relations with state businesses.
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