The US Internal Revenue Service is currently looking at Uber Technologies Inc’s taxes for 2013 and 2014. Photo: (AP Photo/Richard Drew)
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 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