Mirzo Ulugbek Innovation Center created in Uzbekistan
President of Uzbekistan Shavkat Mirziyoyev signed a decree “On measures to radically improve conditions for development of the information technology industry in the country”.
The Center is created to create favorable conditions for formation and active development of high-tech industries based on the use of ICT, further deepening the integration of science, education and production in this industry.
The Center is created on the principle of extraterritoriality within the whole territory of the Republic of Uzbekistan with accommodation of its residents throughout the country.
Mirzo Ulugbek Innovation Center is created for 10 years with the possibility of its further extension.
The center will specialize in the development of software, design and development of information systems, resources and databases.
Residents of the center will also implement projects in the field of information security. The center will support startup projects. The center will also conduct research in the field of information technology.
Till 1 January 2018, Residents of the Innovation Center are exempted from paying taxes and compulsory payments. They also received customs privileges.
Employees of the residents of the Innovation Center also received tax benefits. Until 1 January 2028, they will be subject to a personal income tax at a fixed rate of 7.5 percent, and insurance premiums of citizens to the extra-budgetary Pension Fund at a rate of 4.5 percent.
At the same time, these incomes are not included in the aggregate annual income of individuals determined for tax purposes.
Residents of the center have the right, within the limits of the proceeds from the export of goods (works, services) of their own production, to make settlements in foreign currency on the territory of Uzbekistan for the payment of wages to employees and dividends in non-cash form by transferring to international payment cards.
Residents of the Innovation Center can export works and services for foreign currency through online stores on the Internet without signing export contracts.
Uzbek leader established the Coordination Council of the Innovation Center to coordinate the activities of state bodies, scientific, educational institutions and other organizations to promote the development of the Innovation Center.