Historic Decree Signed to Develop Culture and Arts

Truly historic and joyful days have begun for the representatives of our country's culture, arts, and creative industries! Our President has signed an important decree on "Large-scale measures for the further development of the spheres of culture, art, and literature."

This historic step was welcomed with great satisfaction by the Head of the Presidential Administration, Saida Mirziyoyeva, on her official page, where she highlighted the unprecedented opportunities being created for cultural figures and.

“For the development of culture, not only inspiration but also conditions that allow creative ideas to be realized are very important. Shaping the creative industry requires real support. Today, our President signed a historic decree providing such assistance.”, emphasized Saida Mirziyoyeva.

“Investment in Creativity” Fund and major tax incentives

According to the new document, in our country “Investment in Creativity” a state targeted fund is being officially established. Most joyfully, for the purpose of implementing and financing promising and bright creative projects, the state will allocate 200 billion soums annually to this fund.

Furthermore, unprecedented tax holidays are being granted to entrepreneurs and companies operating in the field of culture and arts. Now:

• Entrepreneurs organizing concert programs;

• Film companies shooting movies and series;

• Creators of content for children;

• Private theaters, creative studios, and private educational institutions in the field of culture.

These representatives will be completely exemptfrom value-added tax (VAT), profit tax, turnover tax, land and property taxes, as well as personal income tax (PIT) deducted from employees' salaries.

In addition, the doors of Uzbekistan are being opened wide for foreign filmmakers. Income earned by foreign film companies through the production of film products on our territory will not be included in the tax base as income of non-residents.

Hundreds of millions in awards for winners and incentives for mentors

The decree also fundamentally updated the system for discovering talents and rewarding them appropriately. Creators who achieve victory in prestigious international and national competitions will be awarded large cash prizes in the following amounts:

• For the Grand Prix and 1st place: 300 million and 100 million soums respectively;

• For 2nd place winners: 200 million and 50 million soums;

• For 3rd place winners: 100 million and 25 million soums.

Our hard-working educators were not forgotten either. Dedicated teachers and concertmasters who trained these winners and prize-winners will be paid a special bonus throughout the year in the amount of up to 100 percent of their monthly salary.

Housing opportunities for needy employees

Very wonderful news was also announced regarding the social protection of creators. According to the decree, every year, for 1,000 employees working in the field of culture, art, and literature who are in dire need of housing, 50 percent of the initial mortgage payment will be covered by the state.

There is no doubt that these historic updates will usher in a new era of creation and creative economy in our country. On behalf of our editorial staff, we congratulate all creative people and art lovers on these magnificent opportunities! May new creative flights be with you!