- General
- June 4, 2019
- 4 minutes read
Uber Under Tax Probe
Uber CEO Dara Khosrowshahi image: Uber Uber in a recent filing with the U.S. Securities and Exchange Commission has made known that…
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| Uber CEO Dara Khosrowshahi
image: Uber
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Uber in a recent filing with the U.S. Securities and Exchange Commission has made known that it’s under investigation from U.S. tax authorities who are examining its taxes for 2013 and 2014. The company also noted that it’s under probe by other state and foreign tax bodies, and that it’s tax benefits are up for a reduction — by at least $141 million — within the next twelve months due to its “transfer pricing positions.”
Uber, in the filing, said it “believes that adequate amounts have been reserved” in the jurisdictions where it’s being investigated. The ride-hailing company recorded income tax expenses of $576 million and $19 million in the first quarter of 2018 and this year respectively. The higher amount it paid in 2018 is mainly related to its holdings in China’s Didi and Singapore’s Grab.
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| Uber Chief Legal Officer, Tony West
image: Uber
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Uber said it is “highly uncertain” when the probes would be resolved, but said “it is reasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months.”
