Apple’s Irish Tax loophole fell apart in 2013, so it went out in search of a new tax haven, and it found one, in Jersey (not that Jersey, the Jersey in the Channel Islands off the coast of England). The fact that Apple is avoiding paying taxes is not at all an issue with me, nor should it be with you, unless, of course, you think theft and extortion is a good thing.
The fact that so many entities (be they individuals or companies) that have the resources to effectively avoid paying taxes should show to you that, no matter what many say who support the taxation model of funding for ostensibly human governance institutions (like the ‘state’), taxation is recognized, at our core, as being an unjust form of funding.
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The world’s most profitable firm has a secretive new structure that would enable it to continue avoiding billions in taxes, the Paradise Papers show.
They reveal how Apple sidestepped a 2013 crackdown on its controversial Irish tax practices by actively shopping around for a tax haven.
It then moved the firm holding most of its untaxed offshore cash, now $252bn, to the Channel Island of Jersey.
Apple said the new structure had not lowered its taxes.
It said it remained the world’s largest taxpayer, paying about $35bn (£26bn) in corporation tax over the past three years, that it had followed the law and its changes “did not reduce our tax payments in any country”.
In a further statement the company stressed that no operations or investments had been moved from Ireland.
The Paradise Papers is the name for a huge leak of financial documents that is throwing light on the world of offshore finance.