The government proposed to exempt operators of carbon units from value added tax, and the State Duma adopted such a law at the plenary session on February 20 after the second and third readings.
The document amends the Tax Code and allows businesses to implement voluntary climate projects aimed at reducing greenhouse gas emissions from 2021.
Ilya Torosov, deputy head of the Ministry of Economic Development, earlier reported about 14 such projects in Russia, allowing enterprises to issue carbon units. The government's proposal to exempt such enterprises from VAT will reduce the financial burden on business and stimulate their development.
The document amends the Tax Code and allows businesses to implement voluntary climate projects aimed at reducing greenhouse gas emissions from 2021.
Ilya Torosov, deputy head of the Ministry of Economic Development, earlier reported about 14 such projects in Russia, allowing enterprises to issue carbon units. The government's proposal to exempt such enterprises from VAT will reduce the financial burden on business and stimulate their development.
