TVNZ: Popular ride share app Uber has been accused of not paying its fair share of taxes in New Zealand.
TVNZ covers CICTAR’s report, developed with First Unions, which claims the ride share service shifted millions of dollars overseas in what it calls 'inter-company service fees' in order to lower its New Zealand tax bill.
CICTAR’s Ed Miller is interviewed, arguing the government would have missed out on “tens of millions of dollars worth” of corporate tax revenue.
According to Uber's most recently available annual report, in 2023 the company made $365 million in revenue in Aotearoa but reported a profit of $4.5 million.
Miller said this is because the vast majority of the company’s revenue here is "sent offshore as what they call 'inter-company service fees'".
There is some in depth analysis of the report, and why it matters here, a clip of Ed Miller talking with ‘Locked Out’s’ Craig Renney here and from around 45 minutes here
CFOTech - ‘Technology news for CFOs & financial decision-makers’ also covered the story, quoting Workers First Union General Secretary, Dennis Maga: “The world is watching. Will we meet the challenge in front of us and ensure fairness in our tax system, or will we be another victim of a corporate steamroller that is crushing economic sovereignty around the world?"