Bloomberg LP Now Registered as VAT Payer in Uzbekistan
Uzbekistan Continues to Register Foreign Internet Companies
Uzbekistan’s Tax Committee has announced that two more foreign internet companies have registered with the country’s tax authorities as value-added tax (VAT) payers, bringing the total number to 69.
On April 15, U.S.-based Bloomberg LP, a prominent provider of global financial data terminals, analytical tools, and news services, completed its registration. Additionally, British company With Reach UK Ltd, the entity behind the acquiring platform Reach, also finalized its registration on the same day. The list of foreign online service providers subject to VAT in Uzbekistan now includes well-known companies such as Alibaba Cloud, eBay, and OpenAI.
In 2024, Uzbekistan successfully integrated its stock market’s IT infrastructure with Bloomberg, allowing terminal users access to real-time data on stock and bond quotes from the Tashkent Stock Exchange. The Republican Currency Exchange also joined the platform shortly after.
The rate of new foreign taxpayer registrations slowed in 2024 compared to previous years, with only six companies submitting applications. Among them was the Irish entity of the popular Etsy marketplace, Etsy Ireland UC.
Other newly registered companies include French acquiring solution provider Nexway, UK-based Contactpay Solution, AI-based translation service DeepL, language course aggregator SaySomethingin.com, and UAE-based Global Intellect Service.
In 2023, foreign tech giants contributed nearly $9 million in taxes to Uzbekistan, with the total volume of services provided increasing significantly. Despite the contribution, platforms like TikTok, which were among the top ten foreign taxpayers, remain blocked in the country.
As Uzbekistan continues to attract foreign internet companies, the government is focusing on ensuring compliance with tax regulations and fostering a conducive environment for international businesses to operate in the country.
