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Apple Responds To Reports About Its Tax Affairs

08 November 2017

The European Union instructed Apple previous year to pay upto $14.5 billion as sanction of illegal taxes benefits in the Ireland.

A company spokesman told the Times that the company told regulators in the US 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.

The Panorama documentary featured BBC reporter Richard Bilton doorstepping Appleby's Jersey office on the Esplanade, where staff denied that the United States tech giant had any presence.

Since, the most important thing to be noticed is that Jersey usually doesn't tax companies.

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".

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'If this proves to be such business, we will consider how to strengthen our arrangements, if necessary by amending our legislation to introduce a substance test.

Apple, for example, pays taxes at a small fraction of that rate on its offshore profits, according to calculations by the Times based on the company's securities filings.

'These allegations will be investigated and we are asking the ICIJ to provide all relevant documents to support this action'.

Apple did not respond to a request for comment yesterday by the Irish Independent concerning its inclusion in the "Paradise Papers".

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 U.S. rather than lower them elsewhere.

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Apple said it believes comprehensive global tax reform is essential, and that it has for many years been advocating for simplification of the tax code.

The paper reported Apple, with the help of law firm Appleby, chose Jersey for its 0 percent corporate tax rate.

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.

A law professor who reviewed the documents told the newspaper that there was a "strong possibility" that Apple moved intellectual property to Ireland in a transfer worth almost $200 billion. The taxes it pays to countries around the world are based on that principle.

In 2014, Apple was facing political pressure over its corporate structure and the "tax residency" of some of its Irish subsidiaries that hold most of its huge cash reserves - now more than $250 billion (£190 billion).

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Collectively, the leaked documents paint a picture of a company looking for a jurisdiction where it would pay low or non-existent taxes, and could operate with discretion in a stable political environment unlikely to change suddenly.

Apple Responds To Reports About Its Tax Affairs