2024-07-17 04:54:29
The State Tax Service under the Ministry of Economy of Azerbaijan is working in two directions for the development of the “green” economy – stimulating the introduction of “green” technologies and collecting a carbon tax.
As reported by Day.Az, Deputy Head of the State Tax Service Ilkin Veliev exclusively told Trend about this.
“Azerbaijan is an extractive industrial country. Many industries here emit greenhouse gases. We are clarifying all the nuances with the extractive and processing companies in the country, since we must understand what kind of pressure could arise on the economy with the possible introduction of the new carbon tax under discussion. This tax initiative is in the process of analysis, and the impact on taxpayers themselves is also being studied,” Veliyev said.
According to him, the possible negative impact of the possible introduction of a carbon tax can be mitigated by incentive measures, which are being clarified within the framework of the second area of work of the tax service in this context. “We want to achieve incentives for the activities of those companies that will implement “green” technologies. It is being discussed whether this will be done through subsidies, through other financial mechanisms. Clarity on this issue will be in the coming months,” Veliyev noted.
He also said that an assessment is being made of the prospects for trading carbon quotas in Azerbaijan.
“We will make decisions from the point of view of economic feasibility,” Veliyev noted.
Let us recall that Azerbaijan sells its carbon quotas abroad and receives “green” certificates in financial denominations.