Entrepreneurship

Home page

Entrepreneurship

Deputy Head of State Tax Service: It is not planned to introduce carbon tax in Azerbaijan next year

Samira Musayeva, Deputy Head of the State Tax Service under the Ministry of Economy

25 November 2024 16:48 (UTC +04:00)

"No changes are expected to be made in the Tax Code for the next year regarding the implementation of carbon pricing mechanisms, including a carbon tax that would cover greenhouse gases with a heating effect," Samira Musayeva, Deputy Head of the State Tax Service under the Ministry of Economy, said in an interview to "APA-Economics."

Samira Musayeva noted that the provisions providing additional incentives in this field from 2025 were reflected in the draft amendments to the Tax Code. For example, in order to make the transportation system more environmentally friendly and reduce emissions into the atmosphere, the draft includes tax incentives for the production of local buses (including electric ones) and for projects related to the production of electricity from renewable energy sources.

"In light of the preliminary results of the research conducted by us and consultations with field experts, I can state that each of the carbon pricing tools has its own advantages and drawbacks, and there is no 'gold' standard in this area. In other words, there is no consensus or unified approach among the countries of the world regarding the implementation of carbon pricing tools," State Tax Service official added.