Major IT companies in Uzbekistan set plan
Major IT companies in Uzbekistan set plan
Major IT companies in Uzbekistan will be assigned a target plan. Those organizations, whose annual income exceeds 100 billion soums, will have to account for at least 10% of the total export income. This was announced by Minister of Digital Technologies of Uzbekistan Sherzod Shermatov.
According to a decree of the Cabinet of Ministers, the plan will come into effect on October 1, 2024.
At the same time, from January 2026, the share of large IT companies in export income will be raised to 20%, and a year later - to 35%.
Those organizations that will not be able to reach this figure will be obligated to finance startups.
For reference, the President of Uzbekistan extended the benefits for large players of the IT-market. They will be able to use tax breaks after 2028. Those companies, which will increase the share of export revenues up to 50% of the proceeds, will retain the preferences until 2040.
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