Paradise Papers: Apple says it paid US$35 billion tax over last three years after offshore secrets revealed in leaked documents
Paradise Papers documents show the company shifted key parts of its business to Jersey, a British dependency in the Channel Islands, as part of a rearrangement that has allowed it to maintain a low tax rate
Apple shifted much of its offshore wealth from Ireland to a tax haven in the British Isles, according to a review of leaked Paradise Papers documents.
Apple confirmed the move in an online post, saying it served to “ensure that tax obligations and payments to the US were not reduced”.
After the US technology colossus stated publicly in 2013 that it was paying its proper share of taxes, it moved the bulk of its untaxed overseas cash to Jersey, a British dependency in the Channel Islands, various media organisations reported based on the once-secret cache of documents known as the Paradise Papers.
The documents shared with some media outlets by the US-based International Consortium of Investigative Journalists has exposed tactics the wealthy and powerful have used to avoid taxes.
In its lengthy post, Apple said it moved profits to Jersey while making corporate changes to adapt to Irish tax laws tightening in 2015.
