This ride hailing company is making huge profits in Oz. Everyone is in complete awe that how can this happen? That is one big question every one of us wants to be answered. The value which has been incurred is just an approximate value and not an exact value. If just an approximate value could double the returns, then if we calculate the exact revenue, it could be unpredictable.
The company has mentioned that only 75% of the transactions are actually considered. The rest of the 25% of the transactions goes under the low tax provinces. The authorities of law stated that, they are auditing the revenues of around 35 online business dealing companies. They need to channelize the income returns to the low cost precincts.
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In the year 2015, the revenue which Uber incurred was $18.1 million. But, for the year of 2016, until June, the total income return would account up to $36.4 million. This is only the 75% of the income returns, if calculated on the whole it would be around $45 million, which is almost close to 2.5 times more than the last year. This is only from the 20% commission charges which they take from the drivers.
Twofold of the revenue is due to the high usage of the service amongst the citizens. There is something which we need to consider is, that the service was considered to be illegal. How did the company manage to provide a service to people, which was illega