Tax benefits for contract payments for higher education have been expanded in Uzbekistan. This was reported by Zamin.uz.
Now, regardless of the child's age, citizens who pay contract fees to higher education institutions can receive a 12 percent income tax benefit. This new regulation was introduced in accordance with the latest amendments to the Tax Code.
According to the new rules, payments made by citizens for higher and professional education for themselves, their children, as well as their spouses under 26 years old, are exempt from income tax. This change will help more families reduce education expenses compared to previous regulations.
The tax benefit for education payments applies not only to parents and children but also to husbands and wives who are under the age limit of 26. This serves to improve the financial situation of families and expand access to education.
These changes in the Tax Code ease parents' education payments and positively impact the family budget. At the same time, it is expected to contribute positively to the development of the education sector in the country.
Source: Tax Code and legislation of the Republic of Uzbekistan.
