IT Park resident status of tens of companies is revoked

As it is known, IT Park residents must carry out their activities in accordance with the Resolution of the Cabinet of Ministers dated 15 July, 2019 No.589 and fulfil the obligations under the Agreement on Terms of Activity of the Resident IT Park.

Recently, the IT Park Directorate has revoked the status of 27 companies due to failing to fulfil their obligations.

According to the Resolution of the Cabinet of Ministers dated July 15, 2019, No. 589, the residents who violate the requirements of the Regulations are deprived of the resident status of the Technopark, and also their tax concessions may be cancelled, with the restoration of obligations to pay them to the State budget of the Republic of Uzbekistan in the prescribed manner.

Currently, 466 IT companies are operating as a resident of IT Park.

The duties of IT Park Residents include:

- carrying out exclusively the activities specified in the business plan based on the activities included in the List;

- providing information on its activities to the IT Park Directorate on a quarterly basis;

- conducting annual financial and business audits and sending one copy of the audit opinion to the Directorate of IT Park;

- fulfilling the obligations arising from the Agreement on Terms of Activity of the Resident with the Directorate of IT Park.

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