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.
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.