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Following The Money At Uber

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In just five years, Uber has expanded from a town base in San Fracisco to more than sixty countries around the globe by making it simple to hail a car with your smart phone. But this Fortune found out behind the app is a complicated corporate structure designed to limit the taxes that Uber pays on rides outside the U.S. Following exactly where the money goes requires navigating more twist in terms than a cab ride through Rome. Let's say you've taken a Uber ride in the italian capital and paid the equivalent of twenty U.S dollars. That twenty dollars goes to a company based in the Netherlands called Uber BV. Uber BV sends 80% of the money back to the driver through another dutch company called RASIER. The italian government will eventualy get some tax revenue from your Uber ride in Rome. When the driver self reports that income. The remaining 20% of your fair, 4 dollars out of the original 20, stays with Uber BV initially. But that doesn't mean that it all gets taxed. Uber ends up paying taxes to the dutch government on just 1% of that revenue. The equivalent of 1 cent out of the original 20 dollars. First, Uber deducts costs. A small portion which will eventually filter(?) back to the italian government, due taxes paid by Uber's local subsidiary in Italy. Then, Uber BV send the remaining money, everything up to 1% of revenue, as a royalty payment to another dutch company, called Uber International CV. Which list its head quarters in an address in Bermuda. Because Uber International CV is a partnership controlled by Uber's U.S business the dutch don't collect taxes on its income. Bermuda charges no taxes on corporate income. And US tax authority see Uber International CV as a dutch company and allow it to defer taxes indefinitely. Only a small royalty that Uber International CV pays back to Uber in the US will be taxable. The result? Almost none of Uber International CV's income, a large portion of Uber's sells around the world, is taxed. Uber may have sprung out of the US taxing, but its own country won't end up collecting taxes on much of its income. Transcrito por Renan Ferreira Avelar. Todos os direitos reservados à Fortune Magazine.

Video Details

Duration: 2 minutes and 23 seconds
Country: United States
Language: English
License: Dotsub - Standard License
Views: 65
Posted by: renan.ferreira on Feb 6, 2016

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