UK tax authority wins appeal in dispute with Bolt which could affect Uber
Uber Technologies,Inc.
Uber Technologies,Inc. UBER | 0.00 |
LONDON, June 12 (Reuters) - Britain's tax authority on Friday won an appeal in a dispute with Estonian ride-hailing and food delivery company Bolt, in a ruling which could affect its rival Uber.
Bolt had argued in the roughly £190 million ($254.81 million) dispute with HM Revenue and Customs that it was liable to charge valued added tax of 20% on its margin, rather than the entire fare charged to customers.
But London's Court of Appeal ruled in HMRC's favour, overturning two lower tribunal decisions. Uber UBER.N has a similar case pending which has been on hold as Bolt's case was ongoing.
($1 = 0.7457 pounds)
