Tax incentives will be provided to entrepreneurs who employ higher education graduates
In Uzbekistan, new tax benefits are being introduced for employers who hire young specialists who have graduated from higher education institutions. This was reported by Zamin.uz.
President Shavkat Mirziyoyev announced this initiative during a solemn meeting held in honor of Youth Day. This news, put forward by the head of our state, will help ensure youth employment and shape them as modern professionals.
According to the new procedure, employers who hire graduates of higher education institutions will have their income and social tax rates significantly reduced for one year. Entrepreneurs will pay taxes for such employees at a rate of just one percent.
This measure increases the economic advantage for business entities in working with young personnel and facilitates graduates’ integration into the labor market. Additionally, to support youth in need of social protection, a special package called "Guaranteed First Step" will be launched.
This program includes orphans, those who have completed military service, labor migrants, individuals who have served their sentences, and persons with disabilities. The state will provide all necessary measures to ensure the social adaptation of these young people and their access to suitable employment.
Furthermore, the Youth Mini-Franchise program will be launched in our country. Under this project, young entrepreneurs planning to expand their businesses will be granted preferential loans and allocated land plots for their activities.
Young people wishing to purchase franchises of local brands will be provided with interest-free loans of up to 300 million soums. To implement these wide-ranging initiatives and financially support youth entrepreneurial activity, 500 billion soums from the state budget are planned to be allocated.
Such opportunities will create conditions for revealing the potential of the younger generation and making a worthy contribution to the development of the country’s economy.
