THE IMPACT OF TAX INCENTIVES ON ACTIVATING GREEN FINANCING MECHANISMS TO ACHIEVE SUSTAINABLE DEVELOPMENT BY 2030 – FIELD STUDY ON THE EGYPTIAN TAX AGENCY

Document Type : Original Article

Authors

1 Faculty of Graduate Studies and Environmental Research, Ain Shams University

2 Faculty of Commerce, Ain Shams University

3 the faculty of commerce, ain shams university

4 Nuclear Materials Authority

Abstract

This study aimed to analyze the impact of tax incentives on financing green projects for sustainable development. Where the researchers in this study relied on the extractive approach, Through the theoretical study method of studies published at the Arab and international levels, In the applied aspect of the study, researchers followed a method of testing the validity of the study's assumptions by conducting a field study to arrive at the impact of tax incentives on green financing mechanisms for sustainable development and to test the impact of each incentive individually, through practical and statistical analysis of the data collected by researchers through the opinions of a sample representative of the study community s Heads of Commissariats, Taxpayers, Directors, Accountants, Auditors and Faculty of Universities, The study has produced a series of results, the most important of which are the different images of tax incentives from one state to another depending on the nature of the activity and the state's fiscal policy. This depends on economic, social and environmental conditions, and the success of the tax exemption and incentive policy is linked to the criterion of efficiency and effectiveness. Green finance is geared towards green projects and helps reduce pollution to achieve sustainable development. Where researchers see that there are some challenges to green finance such as the absence of standards, clear definitions, initial high costs, lack of awareness and expertise, and weak regulatory policies to access green finance in developing countries. The study concluded with a number of recommendations, the most important of which was the need to establish a fair and incentive environmental tax system for investment in green projects, clean production and pollution reduction projects, and the need to establish controls to resolve the disadvantages of incentives and tax exemptions and to prepare a comprehensive strategy for the development of the green economy in both developing and developed countries. Green finance must be developed as one of the most important sources of financing for environmentally sensitive projects. Tax breaks are granted by industry and economic activity and support for developing and developed countries to move towards a green economy and simplify tax sector rules and procedures.
 
 

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