Environmental protection and ecological sustainability are covered by state incentive tools across all sectors of the economy in Azerbaijan, Samira Musayeva, Deputy Chief of the State Tax Service under the Azerbaijani Ministry of Economy, told journalists, Report informs.
"One of these tools is tax incentives. For several years, the import and sale of electric and hybrid vehicles imported to the country have been exempt from VAT," Musayeva noted.
Additionally, the tax official said that within the framework of next year's budget package, the draft law on amendments to the Tax Code provides for the exemption of entrepreneurs engaged in energy production from renewable sources from income, profit, property, and land taxes: "At the same time, we plan to exempt equipment imported to the country for establishing this infrastructure from VAT and customs duties. One of the main incentive tools envisaged in the budget package is the coverage of private entities with long-term tax incentives within the framework of public-private partnership. If we look at the 'Public-Private Partnership' bill, priority is given to projects related to environmental protection and promotion of ecological sustainability."