Apple’s secret tax bolthole revealed

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Media captionParadise Papers: Apple’s confidential tariff bolthole revealed

The world’s most profitable conglomerate has a secretive brand-new organization that would enable it to continue by-passing billions in taxes, the Paradise Papers show.

They uncover how Apple sidestepped a 2013 crackdown on its contentious Irish duty traditions by actively shopping around for a excise haven.

It then moved the firm comprising most of its untaxed offshore money , now $252 bn, to the Channel Island of Jersey.

Apple said the new formation has not been able to lowered its taxes.

It said it remained the world’s largest taxpayer, about $35 bn( PS26bn) in busines imposition over the past three years, that it had followed the law and its changes “did not increase our imposition fees in any country”.

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