Uber's 2013-2014 tax returns under investigation

Ride-hailing company Uber is under investigation from various state and foreign tax authorities including the Internal Revenue Service in the US over its tax returns for 2013 and 2014.

Uber revealed the news on Tuesday and said the IRS is already examining the company’s taxes for those two yers, according to a filing with the Securities and Exchange Commission.

Nonethess, Uber was clear that it believes it can cover any additional tax bills that may arise from savings reserved for these matters.

It added that taxes from 2010 to 2019 could be subject to adjustments in major markets like the US, India, Brazil and the UK.

It is still unknown when the investigations will conclude and the company said it is “reasonably possible that the balance of gross unrecognised tax benefits could significantly change in the next 12 months.”