21 companies have been deprived of IT Park resident status

Thanks to the special tax regime created in Uzbekistan for IT companies, the number of IT Park residents is growing.

Organizations that have become residents undertake to carry out activities in accordance with the requirements of the Regulations on the procedure for organizing the activities of IT Park, approved by the Resolution of the Cabinet of Ministers dated July 15, 2019 No. 589, and fulfill obligations in accordance with the Agreement on the conditions for the activities of IT Park resident.

Companies that violate the requirements of the Regulations are deprived of their resident status, and tax benefits are canceled with the subsequent restoration of obligations to pay them to the State Budget of the Republic of Uzbekistan in the prescribed manner.

As of May 1, 2023, 21 companies were deprived of their resident status by the decision of IT Park for failure to fulfill their obligations. The list of enterprises deprived of status can be found below.

Recall that the duties of residents include:

• carry out the activities specified in the business plan in accordance with the List;
• provide IT Park with a quarterly report on its activities;
• annually conduct an audit of financial and economic activities and send one copy of the audit report to IT Park;
• fulfill the obligations arising from the Agreement on the conditions of the residentʼs activity with IT Park.

It should also be noted that 1304 IT companies are currently residents of IT Park.