Oracle NZ cuts $8m deal with IRD only to find itself back in the gun

Transfer pricing is a tricky business. (Image: Getty)

Wed, 22 Feb 2023

Oracle New Zealand cut an $8.1 million deal to settle a years-long dispute with the Inland Revenue Department over its cross-border transactions, only to find itself once again at odds with the tax authority. The local arm of the global software developer had been willing to let the courts decide its dispute over what the tax department deemed a $20.3m shortfall in tax paid – not including penalties – for the 2013, 2014 and 2015 tax years. Through those years, Oracle NZ’s tax expense was almost $3m. Oracle first ackn...

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