Its 9am in singapore. 1am in london and five in the afternoon in california where bosses at apple the worlds most Profitable Company are watching a new tax controversy unravel. Leaked documents show the tech giant actively sought out tax havens after an irish low tax loophole it used was closed. The company then moved massive amounts of cash offshore to the island ofjersey in a move that wouldve saved it billions of dollars. Although the company has done nothing illegal, it is again under fire from the eu and us over its tax arrangements. It came to light after millions of financial documents the Paradise Papers were obtained by the german newspaper, sud Deutsche Zeitung and shared with journalists around the world including a team at the bbc. Simonjack reports. A rapturous reception for the latest iphone. Its the most popular and profitable Consumer Product of all time. Its generated hundreds of billions in profits for apple since it was introduced ten years ago. What these papers sho
Apple, are watching a new tax controversy unravel. Leaked documents show the tech giant actively sought out tax havens after an irish low tax loophole it used was closed. The company then moved massive amounts of cash offshore to the island ofjersey in a move that wouldve saved it billions of dollars. Although the company has done nothing illegal, it is again under fire from the eu and us over its tax arrangements. It came to light after millions of financial documents, the Paradise Papers, were obtained by the german newspaper, suddeutsche zeitung, and shared with journalists around the world including a team at the bbc. Simonjack reports. A rapturous reception for the latest iphone. Its the most popular and profitable Consumer Product of all time. Its generated hundreds of billions in profits for apple since it was introduced ten years ago. What these papers show is just how determined apple has been to keep the tax on those profits as low as possible. And how keen some governments,
Leaked documents show the tech giant actively sought out tax havens after an irish low tax loophole it used was closed. The company then moved massive amounts of cash offshore to the island ofjersey in a move that wouldve saved it billions of dollars. Although the company has done nothing illegal it is again under fire from the eu and us over its tax arrangements. It came to light after millions of financial documents the Paradise Papers were obtained by the german newspaper sud Deutsche Zeitung and shared with journalists around the world including a team at the bbc. Simonjack reports. A rapturous reception for the latest iphone. Its the most popular and profitable Consumer Product of all time. Its generated hundreds of billions in profits for apple since it was introduced ten years ago. What these papers show is just how determined apple has been to keep the tax on those profits as low as possible. And how keen some governments, lawyers, and advisers have been to help them do it. For
Leaked documents show the tech giant actively sought out tax havens after an irish low tax loophole it used was closed. The company then moved massive amounts of cash offshore to the island ofjersey in a move that wouldve saved it billions of dollars. Although the company has done nothing illegal, it is again under fire from the eu and us over its tax arrangements. It came to light after millions of financial documents the Paradise Papers were obtained by the german newspaper sud Deutsche Zeitung and shared with journalists around the world including a team at the bbc. Simonjack reports. A rapturous reception for the latest iphone. Its the most popular and profitable Consumer Product of all time. Its generated hundreds of billions in profits for apple since it was introduced ten years ago. What these papers show is just how determined apple has been to keep the tax bill on those profits as low as possible. And how keen some governments, lawyers, and advisers have been to help them do i
Managing most of its untaxed cash reserves offshore, on the Channel Island ofjersey. It moved the money tojersey after a tax loophole in ireland was closed. Although the company has done nothing illegal, its tax arrangements have been criticised by eu and us officials. Our Business Editor simonjack reports. A rapturous reception for the latest iphone. Its the most popular and profitable Consumer Product of all time. Its generated hundreds of billions in profits for apple since it was introduced ten years ago. What these papers show is just how determined apple has been to keep the tax bill on those profits as low as possible. And how keen some governments, lawyers, and advisers have been to help them do it. For many years, apple sent profits made outside the americas to ireland, where an elaborate Corporate Structure meant it paid nearly no tax on the billions it was making. Taxes that would have been due to the united states, where politicians started applying pressure to a defiant ap