US tax platform Uber has created a deduction of 6.1 billion dollars (5.45 billion euros) via the Dutch tax system, reports Bloomberg news agency.
Uber created the deduction by removing intellectual property from a letterbox company in Bermuda and moving it to a subsidiary in the Netherlands. Here favorable tax regulations apply to income from intangible assets, such as trademark rights.
"It is safe to say that Uber will not pay taxes in the near future," tax expert Robert Willens told Bloomberg about the step of the taxi platform.
According to Uber, it is adapting to the new international tax climate with the shift of intellectual property. The company refers to OECD regulations that were created to prevent tax avoidance.
In the new way, Uber no longer redirects profits through Dutch letterbox firms to tax havens. There is increasing criticism of that practice.
Uber will only benefit from the tax benefit created if the company makes a profit, which is not currently the case. The taxi platform presents the quarterly figures on Thursday evening around 10 p.m. Dutch time. Various analysts expect Uber to announce a loss of more than 5 billion dollars.