Uber says IRS looking at its 2013-14 tax returns

INTERNATIONAL – The US Internal Revenue Service is currently looking at Uber Technologies Inc’s taxes for 2013 and 2014, and the ride-hailing company said it expects unrecognized tax benefits to be reduced within the next year by at least $141 million.

Uber also said in a filing here) on Tuesday that various state and foreign tax authorities were looking into its taxes.

media reference%3A3244aec1890040b5adadf8b2acbbb606 - Uber says IRS looking at its 2013-14 tax returns
The US Internal Revenue Service is currently looking at Uber Technologies Inc’s taxes for 2013 and 2014. Photo: (AP Photo/Richard Drew)


The company’s shares, which closed up 2 percent on Monday, were down 1 percent in premarket trade.

Uber was the biggest of a group of Silicon Valley startups to go public this year against the backdrop of a global stock market sell-off sparked by renewed trade tensions between the United States and China.

In its first quarterly report as a public company last week, Uber reported a $1 billion loss as it spent heavily to build up its food delivery and freight businesses.


REUTERS

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