Uzbekistan, a country with a rich cultural heritage and a rapidly growing economy, is actively fostering a favorable environment for innovation and technological progress. At the heart of these effort is the IT Park, which offers unique tax incentives to its residents. These measures aim to stimulate the growth of the IT industry and position Uzbekistan as a hub of digital innovation.
Exclusive Tax Benefits for IT Park Residents
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- Corporate Income Tax: A Catalyst for Growth
Companies in Uzbekistan’s IT Park are exempt from corporate income tax until January 1, 2028. This benefit allows businesses to reinvest their profits into further development and innovation without financial constraints. Such a tax exemption creates a favorable environment for the growth and flourishing of new ideas. - Social Tax: Relief from Financial Burden
Full exemption from social tax provides entrepreneurs with freedom from additional financial obligations. This allows them to focus resources on developing human capital, creating jobs, and enhancing employee skills, which are key to sustainable growth. - Property and Land Tax: Space for Innovation
Exemption from property and land taxes creates additional incentives for investment in infrastructure and real estate. IT Park residents can allocate funds toward the creation of modern offices, research labs, and other facilities necessary to realize their ambitious projects. - VAT on Imported IT Services: Open Doors for Global Collaboration
The exemption from VAT on imported IT services opens new avenues for international collaboration. This enables companies to easily integrate cutting-edge technologies and services from abroad, fostering the creation of competitive products and services in the global market. - Dividend Income Tax: Attractive Conditions for Investors
A low dividend income tax rate of 5% makes investments in Uzbek IT companies particularly attractive. This encourages both foreign and domestic investors to support the development of innovative projects and startups. - Personal Income Tax: Incentives for Talented Professionals
The reduction of personal income tax to 7.5% on wages creates favorable conditions for attracting talented professionals to Uzbekistan. This helps build a highly qualified workforce that will be the foundation for the future success of the IT industry.
Conclusion: Inspiration for the FutureUzbekistan’s IT Park is not just a territory with preferential taxation; it is a place where new ideas are born and developed, where innovations become reality. The preferential tax regime creates unique opportunities for entrepreneurs and investors, helping to transform Uzbekistan into a center of digital innovation and technological progress. This is a testament to the country’s commitment to creating a bright and prosperous future, where every talent can find their niche and contribute to the greater good.