Oracle among last hold outs on transfer pricing

Mon, 09 Dec 2019

Oracle New Zealand’s latest accounts show the firm is still at odds with the Inland Revenue Department over the practice of shifting profits from one jurisdiction to another.The company’s local accounts were filed a week after Microsoft New Zealand’s, which showed that software giant made a $24.7 million tax payment as part of a settlement deed with IRD over transfer pricing.IRD last week said it had resolved most of the 16 audits of multinationals over the use of transfer pricing, which the tax department estimated was trimming their collectiv...

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