Bloomberg LP registers as a VAT payer in Uzbekistan

Two more internet companies have registered with Uzbekistan’s Tax Committee as value-added tax (VAT) payers, according to the Interregional Inspectorate for Large Taxpayers.

On April 15, the U.S.-based Bloomberg LP — a leading provider of global financial data terminals, analytical tools, and news services — registered with Uzbekistan’s tax authorities.

That same day, the British company With Reach UK Ltd, the legal entity behind the acquiring platform Reach, also completed its registration. The list of foreign online service providers subject to VAT in Uzbekistan now includes 69 companies, such as Alibaba Cloud, eBay, and OpenAI.

In the fall of 2024, Uzbekistan completed the integration of its stock market’s IT infrastructure with Bloomberg. Since then, Bloomberg terminal users have been able to access real-time data on stock and bond quotes, as well as order books from the Tashkent Stock Exchange. The Republican Currency Exchange joined the platform shortly afterward.

The rate of registration for new foreign taxpayers slowed noticeably in 2024 compared to previous years. Only six companies filed applications, among them the Irish entity of the Etsy marketplace (Etsy Ireland UC).

Other newly registered companies include acquiring solution providers Nexway (France) and Contactpay Solution (UK), the AI-based translation service DeepL, language course aggregator SaySomethingin.com, and UAE-based Global Intellect Service.

In 2023, foreign tech giants paid nearly $9 million in taxes to Uzbekistan. The total volume of services provided increased by 1.5 times, approaching 1 trillion UZS. Among the top ten foreign taxpayers was TikTok, which remains blocked in the country.