Uzbekistan continues to maintain the status of a country with favorable conditions for IT-companies. Thanks to a special tax regime, the number of IT Park residents is steadily growing every month.
However, residents have obligations to IT Park, non-compliance with which entails the deprivation of status.
So, to date, 35 companies have been deprived of their IT Park resident status for failure to fulfill their obligations.
It should be noted that IT Park residents must carry out activities in accordance with the requirements of the Resolution of the Cabinet of Ministers No.589 of July 15, 2019 and fulfill obligations under the Agreement on the conditions of activity of IT Park resident.
In particular, among the main obligations are:
• to carry out the types of activities specified in the business plan according to 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.
Residents who violated the requirements of the Regulations, are deprived of IT Park resident status, and the tax authorities take measures to cancel the benefits, with the restoration of obligations to pay them to the State Budget of the Republic of Uzbekistan in the prescribed manner.
List of companies deprived of the status of IT Park resident: