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Uber and Lyft could be avoiding $135 million in Canadian taxes every year by relying on contract workers, report says

Uber and Lyft could be avoiding $135 million in Canadian taxes every year by relying on contract workers, report says tsonnemaker@insider.com (Tyler Sonnemaker) © Provided by Business Insider Uber CEO Dara Khosrowshahi and Lyft CEO Logan Green Laura Buckman/Reuters; Carlo Allegri/Reuters Uber and Lyft could avoid a combined $135 million in taxes annually in Canada, a new report claims. Canadians for Tax Fairness blamed lax disclosure laws and companies classifying drivers as contractors. Uber and Lyft both disputed the findings, telling Insider they paid all required taxes in Canada. Uber and Lyft could be avoiding a combined $135 million in taxes every year in Canada, according to a new report from the nonprofit Canadians for Tax Fairness (C4TF).

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Champions League of tax avoidance: Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says

Champions League of tax avoidance: Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says tsonnemaker@insider.com (Tyler Sonnemaker) © Provided by Business Insider Uber CEO Dara Khosrowshahi. Riccardo Savi/Getty Images Uber used around 50 Dutch shell companies to help reduce its global tax burden, an Australian research group found. Despite earning $5.8 billion in global revenues in 2019, Uber claimed a $4.5 billion loss for tax purposes. One researcher called Uber s alleged scheme the Champions League of tax avoidance. Uber has been using a complex tax shelter involving around 50 Dutch shell companies to reduce its global tax bill, according to recent research from the Center for International Corporate Tax Accountability and Research.

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Uber reveals March bookings were the highest in company history as ride-hailing rebounds from the pandemic

Uber reveals March bookings were the highest in company history as ride-hailing rebounds from the pandemic gkay@businessinsider.com (Grace Kay) Uber saw record demand for its ride-hailing services in March, it said Monday The company also hit another record for its delivery services. Uber faces some difficulty finding drivers to meet post-pandemic demand for its services. Uber on Monday revealed record bookings for the month of March 2021, fueled by an resurgence in travel as pandemic restrictions around the world slowly begin to slip away. The company, which lost nearly $6.8 billion last year, said in a regulatory filing that March bookings were up 9% month-over-month to the highest level in company history. As a result, the company believes it can still become profitable by the end of 2021 on an adjusted EBITDA basis.

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