Tax benefits are provided to employers who hire higher education graduates.
In Uzbekistan, a new system is being introduced to provide graduates of higher education institutions with suitable employment opportunities and to foster an entrepreneurial environment among youth. This was reported by Zamin.uz.
The initiative was announced during a meeting between the head of state and youth representatives. Under the new procedure, companies and organizations that hire university graduates will be provided with tax benefits.
Specifically, the personal income tax and social tax rates for payments made to these specialists will be reduced by up to one percent for a period of one year, which will help increase employers' interest in hiring young personnel.
At the same time, a new program called "Guaranteed First Step" will be launched in the country. This project primarily aims to support youth in need of social protection, including orphans, persons with disabilities, and citizens returning from labor migration abroad.
Within the framework of the program, necessary conditions will be created to help them find their place in society and ensure employment. Additionally, special incentive measures have been established for students who demonstrate social responsibility.
Students who have prepared youth from the aforementioned categories for higher education and have taught them will be granted additional advantages during the admission process to the master's degree stage and when assigning scholarships. This measure will further strengthen the environment of mutual support and camaraderie among youth.
To support young entrepreneurs, the Youth Mini-Franchise program is also being launched. Under this initiative, interest-free loans of up to 300 million soums will be allocated to young people who wish to start their own business under local brands.
This financial support will serve as an important foundation for youth to begin their entrepreneurial activities. For the full implementation of all these initiatives and programs, it is planned to allocate a total of 500 billion soums from the state budget.
