The world's most profitable firm has a secretive new structure that would enable it to continue avoiding billions in taxes, the Paradise Papers show.
They reveal how Apple sidestepped a 2013 crackdown on its controversial Irish tax practices by actively shopping around for a tax haven.
It then moved the firm holding most of its untaxed offshore cash, now $252bn, to the Channel Island of Jersey.
Apple said the new structure had not lowered its taxes.
It said it remained the world's largest taxpayer, paying about $35bn (£26bn) in corporation tax over the past three years, that it had followed the law and its changes "did not reduce our tax payments in any country".
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Lets be honest. Everyone looks for a tax break/loophole.
ReplyDeleteCongress,for crying out loud lower the damn tax rate and bring that money back to the U.S.
ReplyDelete"did not reduce our tax payments in any country."
ReplyDeleteWhat that means is this --- we put our money in another country where they DON'T tax us or tax us REALLY low.
The statement is disingenuous, but true.
They should run for office. They'd fit right in.
Keep cheering.