Tax revenues from Yandex in Uzbekistan have significantly exceeded expectations, as reported by the press service of the Tax Committee.
The head of the agency, Sherzod Kudbiyev, held a meeting on November 25 with Daniil Shuleyko, the global CEO of Yandex. The parties discussed efforts to fiscalize passenger transport through taxi aggregators and opportunities for collaboration in this area.
It was noted that transparent tax administration has led to increased budget revenues. Over the course of ten months, the total payments amounted to 125 billion sums ($9.75 million at the Central Bank's exchange rate), compared to the previously projected 100 billion sums for the year.
Yandex will continue to collaborate with government agencies in Uzbekistan to ensure market transparency. The parties intend to enhance the "whitening" of other types of activities in the service sector.
Starting December 2023, the Yandex Go service has implemented the generation of fiscal receipts within the app. Moreover, the service has established a local legal entity for localization in Uzbekistan and has received tax resident status. In the first 6 days of the new system's operation, 800,000 receipts were generated, totaling 13.5 billion sums.
At the same time, the Competition Committee recognized YandexGo UB's dominant position in the taxi market. The agency assessed the service's market share at that time to be 86.3%, which creates risks of unilateral influence on prices.
In February of this year, Yandex Go also began issuing electronic receipts for cash payments. In the first three months, tax revenues from all taxi aggregators amounted to 9.7 billion sums.
Earlier, Spot reported that Yandex Uzbekistan launched a quick delivery service for groceries and ready meals called "Lavka" in Tashkent.