Starting from July, Uzbekistan will issue "green energy" certificates to confirm the production of electricity using renewable energy sources from the "Uzbekhydroenergy" system, according to the Ministry of Energy, Dunyo reports.
Starting from October 1st, similar certificates will also be issued for electricity generated from solar, wind, hydro power stations, and other renewable energy sources. Each "green energy" certificate confirms the production of 1000 kWh of electricity using renewable energy sources.
The Ministry of Economy and Finance is responsible for managing the "green energy" certificate system, including the registration of generation facilities, issuance of certificates, and keeping track of their movement. These certificates are considered civil law objects, freely tradable, and can be transferred between individuals in accordance with the legislation.
The registration of generation facilities, issuance of unique identification numbers for "green energy" certificates, and the tracking of their movement are carried out through the Unified Electronic Platform for "green energy" certificates, following international standards. However, the legislation on securities market does not apply to the issuance, issuance, redemption, and trading of "green energy" certificates.
Income generated from the sale of "green energy" certificates by generation facilities is exempt from profit tax. When determining the tax base for profit tax, the expenses for acquiring "green energy" certificates are considered deductible expenses.
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