Paradise Papers: Apple reacts to media reports [Reuters]
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Source: Reuters
Paradise Papers: Apple reacts to media reports | Reuters.com 11:33am EST - 01:55 Apple Inc has said none of its operations were moved from Ireland and that changes made to its corporate structure in 2015 were specially designed to preserve tax payments to the United States, and not to reduce taxes anywhere else. As David Pollard reports, the statement follows criticism of its tax affairs after reports based on the ''Paradise Papers'' showed that the iPhone maker shifted key parts of its business to Jersey as an offshore tax haven in a move to maintain a low tax rate. ? Hide Transcript ? View Transcript The boats are sheltering here but the question is whether a giant pile of Apple cash is too. The leaked Paradise Papers, media reports say, show the world's most profitable firm has a secretive new structure to avoid paying billions in taxes. And has moved most of its 252 billion dollars of untaxed offshore cash to Jersey - a known tax haven in the English Channel. Only now, Apple is b
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