Uzbekistan’s IT Park annulled the resident status of 35 companies for non-fulfilment of their obligations. This is reported by the press service of the company.
Residents must operate in accordance with the requirements of the Cabinet of Ministers decision No. 589 dated July 15, 2019.
In particular, the residents must:
- implement activities specified in the business plan in accordance with the List;
- submit a quarterly report on its activities to IT Park;
- conduct annually an audit of financial and economic activities and send a copy of the audit report to IT Park;
- fulfil the obligations arising from the contract on the conditions of work of the resident with IT Park.
Residents who violate the requirements of the regulation will be deprived of the status of IT Park residents. Tax organizations will take measures to cancel the benefits in accordance with the established procedure while restoring the obligation to pay to the State budget of Uzbekistan.
Prosoft, TIB Solutions and High Innovation Space from Tashkent are among the companies deprived of the IT Park resident status.
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