Uber pays about $400,000tax

Uber pays about $400,000tax

Uber - the Silicon Valley technology giant with a market valuation of over $US60 billion ($83.4billion) - paid just over $403,000 tax in Australia over a three-year period.

Uber's response to questions it took on notice at the Senate inquiry into corporate tax avoidance, obtained by Fairfax Media, confirm the company pays tax on a fraction of its local earnings. Its director of public policy Brad Kitschke, who was unable to answer questions about its tax bill at the November public hearing, has now come back with the figures.

The amount of corporate tax Uber paid in Australia has only slightly increased from $19,387 in 2013,to$134,387 in 2014, and then $249,280 in 2015.

Its financial accounts lodged with the Australian Securities and Investment Commission late last year show that the popular ride-sharing service earned $804,399 in revenue in 2013.

But even its local revenue does not paint the full picture.

Uber, which currently employs about 20,000 drivers across Australia, counts only 75 per cent of each transaction locally. the rest is routed through the Netherlands,where its parent company is based.

The Australian Taxation Office has been questioning the tax  paid by Uber, in particular whether significant economic activity is taking place in Australia that should be taxed.

Nassim Khadem

NOTES:

Uber giant valuation of over $US60 billion - paid just over $403,000 tax in Australia over a three-year period.

Uber's response to tax avoidance.

The amount of corporate tax Uber paid in Australia has only slightly increased.

Financial accounts show that the popular ride-sharing service earned $804,399 in revenue in 2013.

Uber employs about 20,000 drivers across Australia, only 75 per cent of each transaction locally.

The Australian Taxation Office has been questioning the tax paid by Uber.

SUMMARY:

This artical is about the tax that Uber paid in Australia was just a small part of Uber giant.The Australian Taxation Office has been questioning the tax  paid by Uber, in particular whether significant economic activity is taking place in Australia that should be taxed.

In my opinion,big company have a extremely preciseness avoid tax system. The Australian Taxation Office should check the weakness of the tax law when they found these big company like Uber pay very little tax. Otherwise, this situation will happen again.