IRD follows IRS lead, audits Microsoft NZ over transfer pricing

Tue, 17 Jan 2017

By Jonathan Underhill Jan. 17 (BusinessDesk) - Microsoft New Zealand, the local unit of the world's biggest software company, is being audited by the Inland Revenue Dept over transfer pricing, a practice that can be used by multinationals to minimise tax. The transfer pricing audit covers Microsoft NZ's accounts for the years 2013 to 2015 and comes as the IRD widens its net to require all foreign-owned firms with annual turnover of more than $30 million to submit an annual basic compliance package which details group structure, financial...

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