International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Thursday, November 9, 2017

Paradise Papers Exposes Apple's Discussions With Attorneys After Congressional Tax Investigation

ICIJ reports again on the Paradise Papers - this time Apple is in the crosshairs:

Despite almost all design and development of its products taking place in the U.S., the iPhone-maker has for years been able to report that about two-thirds of its worldwide profits were Journalists logo made in other countries, where it has used loopholes to access ultra-low foreign tax rates.

Now leaked documents help show how Apple quietly carried out a restructuring of its Irish companies at the end of 2014, allowing it to carry on paying taxes at low rates on the majority of global profits.

Those rates allowed it to accumulate a $252 billion mountain of cash offshore.

BEPS | Permalink


Post a comment