Thursday, September 24, 2009

Pittsburgh G-20 Process Must Tackle Banking Secrecy, Illicit Financial Flows

Employee reps are constantly beeing refused access to informations regarding Oracle offshore operations.
We do support the "Global Financial Integrity" call to urge leaders to pursue measures to increase transparency in global finance and curtail illicit financial flows.
Why would there be such a secrecy, with autonomous computer networks not linked to the main Oracle Intranet, and impressive firewalls ?
Why would an honest company still need so many holdings in Haven Islands ?

We know for sure Oracle CAPAC is driving key operations to prevent country tax authorities to challenge zero or near zero withholing rates applied.
An other example, France Tax authorities are conducting a 6+ years revenue recognition review, challenging the operating cost transfer ratios used by the company.

It's time for an higher morale in Corporations !

Any information, idea on your side, other examples regarding those operations please contact us. We will guaranty your anonymity :

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