Uber is moving its intellectual property arm from Bermuda to the Netherlands to save $6.1bn from its tax bid, Bloomberg reported on Friday.

Uber is resorting to an accounting practice known as a “Double-Dutch,” popular with a number of multinationals. The tax strategy will only kick in if Uber becomes profitable, as the company is currently operating at an annual loss of $10bn.

The Netherlands is a favoured destination of many multinational corporations, mainly because payment of “intellec...

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