Apple defends use of new tax haven after Ireland got tough [CNNMoney.com]
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Source: CNNMoney.com
Apple defends use of new tax haven after Ireland got toughApple has defended its tax arrangements after reports revealed it had shifted its mountain of offshore cash from Ireland to a tax haven in the English Channel.A trove of documents known as the Paradise Papers have reportedly shed light on Apple's search for a new place to store the huge sums, after more than two decades of benefiting from artificially low taxes in Ireland. The company has resisted bringing the money back to the U.S. because of the massive tax bill it would face.Coverage of the documents is being coordinated by the International Consortium of Investigative Journalists, which has shared them with major media outlets including The New York Times, The Guardian and the BBC.CNN hasn't independently reviewed the documents.Related: What you need to know about the Paradise PapersApple (AAPL, Tech30)for years funneled most of its overseas profits through Ireland. Arrangements with the Irish government allowed Apple to p
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