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… More at The BBC.
Can’t say I am shocked that Apple does this, that Lewis Hamilton and Bono seem to be involved, and that even the Queen is being dragged into this mess.
This is the way the world works, but the only saving grace is that we are starting to catch a glimpse of just how unequal it is.