Apple is once again being accused of tax avoidance. This time, it’s analysis of the so-called ‘paradise papers,’ a massive leak of financial documents relating to countries commonly used as offshore tax havens.
The BBC claims that, once Apple was unable to use an Irish tax arrangement to reduce its tax obligations, it looked for a similar arrangement elsewhere.
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.
This is just the latest in a long history of tax avoidance allegations against the company …
expand full story