BAKU, Azerbaijan, September 9. The Azerbaijani government is providing tax incentives for the development of a green economy, in particular in the creation and use of renewable energy sources and green technologies, Deputy Head of the State Tax Service under the Ministry of Economy of Azerbaijan Samira Musayeva said, Trend reports.
She made the remark at the "Role of small and medium businesses in the green economy" conference in Baku today.
"Over the past five years, Azerbaijan has introduced a number of tax incentives aimed at supporting the energy transition. These measures not only cover the construction of renewable energy sources, but also the purchase of electric vehicles and their charging stations, as well as the adoption of green technologies," noted Musayevа.
Meanwhile, she claims that the Ministry of Economy is looking at the possibility of implementing carbon taxes and tariffs in light of the harm caused by emissions of greenhouse gases.
"We work with the World Bank, Asian Development Bank, OECD, and Harvard University on this. Azerbaijan wants a 'green' economy with the right tax regulation and commercial incentives. Thus, worldwide expertise will assist the government in creating a sustainable taxation plan for economic growth," Musayevа explained.
The official also said that on a global scale, there is a lot of buzz in the financial world about tools that can help cut down on carbon dioxide emissions.
"Carbon-related fiscal actions accounted for seven percent globally 10 years ago; now, it's three times higher. This indicates that carbon pricing has become a very popular tool for achieving greenhouse gas reduction goals. Financial instruments such as carbon credit trading are essential for funding adaptation programs to climate change worldwide," she added.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel