Tashkent, Uzbekistan (UzDaily.com) -- 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 Resolution of the Cabinet of Ministers from 15 July 2019 No. 589, and fulfill obligations under the Agreement on the conditions of activity IT Park resident.

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

According to the press service, 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.

So, as of 1 May 2023, 21 companies were deprived of their resident status by the decision of IT Park for failure to fulfill their obligations. 

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 resident’s activity with IT Park.

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