Oracle NZ says it has lodged statements with the High Court contesting a $20.3m tax bill. The New Zealand arm of software multinational Oracle underpaid more than $20 million in tax by overpaying for services supplied by its overseas parent, Inland Revenue believes. Oracle, which is chaired by flamboyant billionaire Larry Ellison, revealed last year that it was in dispute with the tax department over its “historic transfer pricing practices”. READ MORE:* Cisco pays Inland Revenue $4.6m after transfer pricing audit* Oracle and Inland Revenue clash over tax bills* Microsoft NZ settles tax dispute with 'confidential' $25m paymentThe company considered Inland Revenue’s claims were “without basis”, it said. The sum in dispute puts it at the higher-end of the recent battles Inland Revenue has had with technology multinationals.

Source: Stuff January 06, 2021 00:11 UTC