Business software giant Oracle, which is headed by flamboyant billionaire Larry Ellison, is in dispute with Inland Revenue over its tax bills, the company has revealed in its annual accounts. Oracle may be best known to most New Zealanders as sponsor of sailing team Oracle Team USA which has regularly tussled with Team New Zealand for the America's Cup. Former Inland Revenue commissioner Robert Russell had forecast in 2010 that the department would use Oracle's Enterprise Tax Suite across all its operations. Inland Revenue wrote off the $7.4m it had spent on licences to use Oracle's Enterprise Tax Suite for that project. BRIAN SNYDER/REUTERS Microsoft chose to settle with Inland Revenue over a transfer pricing dispute, but Oracle says it believes it has acted properly.

Source: Stuff December 08, 2019 21:33 UTC