The data released by Uzbekistan's tax committee reveals that a total of 57 foreign companies operating in the electronic services sector made tax payments amounting to UZS 23.6 bn ($1.9 mn) during the period from January to March 2024.
This figure represents a remarkable 1.4-fold rise compared to the same timeframe in 2023, Roziqov Muzaffar, IB at KAP DEPO Investment Company states.
10 of these foreign companies accounted fora 96.5% of the total tax payments made during the first quarter of 2024. Topping the list is Meta, the parent company of Facebook, which contributed a staggering UZS 8.9 bn ($704,392) to the national coffers. Following closely behind are tech giants Google and Apple, with tax payments amounting to UZS 6.5 bn ($514,444) and UZS 4.5 bn ($356,153) respectively.
Other notable contributors include Booking.com, Amazon, ACCA, Zoom, Netflix, Yandex, and Xsolla, each making substantial tax payments ranging from hundreds of millions to billions of UZS. Specifically:
- Booking.com: UZS 776.8 mn ($61,480)
- Amazon: UZS 549.4 mn ($43,482)
- ACCA: UZS 337.3 mn ($26,695)
- Zoom: UZS 333.3 mn ($26,379)
- Netflix: UZS 324.7 mn ($25,698)
- Yandex: UZS 212.1 mn ($16,786)
- Xsolla: UZS 193.4 mn ($15,306)
These companies span a diverse range of sectors including e-commerce, online streaming, cloud computing, and digital finance, reflecting the multifaceted nature of the electronic services industry.
In 2023, between January and April, foreign IT companies operating in Uzbekistan contributed UZS 32.4 bn ($2.6 mn) in taxes, marking a 1.6-fold increase compared to the previous year.
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