Apple Responds To Reports About Its Tax Affairs

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This week there have been reports over Apple tax affairs and also a number of company's after lots of documents were leaked in the Paradise Papers.

Leaked documents have revealed how Apple went shopping around for a tax haven in 2014.

Apple did not reply to an AFP request for comment but has previously gone on record saying it pays all taxes required by law and that the amount is substantial.

Apple moved two of its subsidiaries from Ireland to Jersey in order to minimise its tax liabilities following the EU-led crackdown on low-tax Ireland, according to the latest releases from the so-called "Paradise Papers".

The company said in a statement: "The debate over Apple's taxes is not about how much we owe but where we owe it".

In 2013, Apple was accused by two of America's most senior politicians of using Ireland to help cut its global tax bill to nearly zero.

In a statement, Apple said that it paid "every dollar it owes in every country around the world" and said changes to its corporate structure in 2015 were to preserve tax payments in the United States rather than lower them elsewhere.

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But by setting up a perfectly legal zero percent corporate tax rate structure in the Isle of Jersey, a BBC analysis found that with Apple making $44.7 billion in 2017 foreign profits outside the USA, the company only paid $1.65 billion, or 4 percent, in foreign taxes.

It's worth noting that Apple's decision to move its subsidiaries isn't illegal and doesn't break any laws, but it does raise questions over the company's business practices as it continues to dodge taxes despite being one of the most profitable companies in the world.

But Apple has come under fire both in the USA and the European Union for its tax practices.

Does the news about Apple's alleged tax activities surprise you?

A company spokesman told the Times that the company told regulators in the USA and European Commission of the reorganization of its Irish subsidiaries at the end of 2014 and said the moves did not reduce its tax payments in any country. "A coordinated legislative effort internationally will remove the current tug of war between countries over tax payments and ensure certainty of law for taxpayers". That allowed the Isle of Jersey to cut its corporate tax rate to zero percent a decade ago.

"The vast majority of the value in our products is indisputably created in the United States - where we do our design, development, engineering work, and much more - so the majority of our taxes are owed to the U.S.".

"At Apple we follow the laws, and if the system changes, we will comply". The tax-avoidance scheme involved allegedly transferring tech patent portfolios to Ireland; then allegedly using Irish and Dutch subsidiaries in the Caribbean to shift profits to low-tax jurisdictions; and then allegedly moving those profits on to virtually "no tax" jurisdictions.

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