On the sidelines of the International Forum on Carbon Pricing organized in Baku, Orkhan Nazarli, the head of the State Tax Service under the Azerbaijani Ministry of Economy, met with Margaret Cotton, Deputy Division Chief Revenue Administration 1 at the International Monetary Fund (IMF), Report informs, citing the State Tax Service.
The meeting emphasized the importance Azerbaijan places on expanding relations with the IMF and noted the significance of the organization's support for projects aimed at improving the business environment and developing public-private sector partnerships.
During the meeting, the significance of the forum organized jointly by the Intra-European Organization of Tax Administrations (IOTA) and the State Tax Service, and the relevance of the topic were particularly emphasized. It was stated that supporting the green economy and accelerating the transition to low-carbon business solutions constitute the main direction of activity for countries. In this regard, maintaining stable economic activity, applying a fair approach, and implementing decarbonization while supporting the business environment are issues of interest to the international community. It was noted that carbon pricing and carbon tax application mechanisms should be seriously investigated. Nazarli stated that tax authorities are conducting analyses in this direction and studying international experience. The parties shared their views on evaluating the role of fiscal tools in the decarbonization process.
The meeting discussed opportunities to strengthen partnership with the IMF on the application of tax instruments for the development of a sustainable and competitive economy, improvement of the business environment, and promotion of public-private partnerships. The parties exchanged views on priority areas of cooperation, work done in promoting international relations of tax authorities, and prospective projects.