Apple 'moved offshore funds to Jersey' after Ireland tax crackdown

Ross helping to shape President Donald Trump's trade policy has a 31 percent stake in Navigator Holdings which the New York Times said earns millions of dollars a year transporting gas for Russian petrochemical firm Sibur

Ross helping to shape President Donald Trump's trade policy has a 31 percent stake in Navigator Holdings which the New York Times said earns millions of dollars a year transporting gas for Russian petrochemical firm Sibur

That US probe subsequently contributed to the Government deciding to tighten rules on so-called stateless companies to ensure that Irish companies had to be resident somewhere.

Up until 2014, the tech company had been exploiting a loophole in tax laws in the USA and the Republic of Ireland known as the "double Irish".

The paper said Apple has $128 billion in offshore profits not taxed by the U.S.

Apple was told to pay Ireland €13 billion (£11.6 billion) in unpaid taxes last August, for example, while Google was ordered to pay €2.4 billion (£2.1 billion) in June or promoting its Google Shopping results above similar comparison results from rivals.

It is the latest revelation from the vast set of papers throwing light on the offshore activities of certain companies and individuals. The European Union had been pressuring the country to close its tax loopholes that allowed Apple to operate essentially tax free by placing its European headquarters within the nation's borders.

It said it remains 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". The move is said to have enabled Apple to amass as much as $252bn (£191bn) of cash offshore.

"We pay all the taxes we owe, every single dollar". That maneuver lets the companies avoid paying hefty taxes they could face by bringing the cash back to the US.

Apple is one of many USA technology companies that have benefited from stashing cash overseas. The company didn't immediately respond to requests for further comment on its global tax arrangements.

However, the company was quoted in the "Guardian" newspaper as saying it had paid tens of billions of dollars in taxes in recent years.

US, Turkey to resume issuing non-immigrant visas
Turkey may reciprocate that move and partially ease issuance of visas for the USA citizens, a Turkish government source said. Turkey has also been enraged by Washington's support for the Syrian Kurdish YPG militia in the fight against Islamic State.

"The debate over Apple's taxes is not about how much we owe but where we owe it", Apple said.

The company has written on its website that they have the dignified economic contributions to the communities and countries where they do their business.

Now, the new corporate structure of Apple is located near the Normandy coastline.

In 2014 then minister for finance Michael Noonan changed Ireland's tax rules so that all of a corporation's annual profits could be written off using capital allowances.

While media headlines focused on his decision to crack down on Double Irish arrangements, less attention was paid to measures not mentioned in his budget speech but contained in accompanying policy documents.

The BBC report cites evidence uncovered in the Panama Papers suggesting Apple actively sought out an alternative arrangement from 2014 onwards.

Apple CEO Tim Cook slammed the ruling as "total political crap" and argued that there's "no reason for it in fact or in law".

The record-breaking case surrounding Apple has placed a major spotlight on Ireland's tax regime and led to criticism from the likes of US President Donald Trump.

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