Home > Technology > Apple says no operations were moved from Ireland

Apple says no operations were moved from Ireland

Written by Robert McHugh, on 7th Nov 2017. Posted in Technology

article headline

Apple Inc said on Monday that none of its operations were moved from Ireland and that changes made to its corporate structure in 2015 was specially designed to preserve tax payments to United States, not to reduce taxes anywhere else.

The statement from Apple comes in response to the criticism it received for its tax affairs after a Guardian analysis of the "Paradise Papers" documents showed the company shifted key parts of its business to Jersey as part of a rearrangement that has allowed it to maintain a low tax rate.

Apple said it pays billions of dollars in taxes to the United States at the statutory 35% rate on investment income from its overseas cash. 

The "Paradise Papers" are a trove of financial documents leaked mostly from Appleby, a prominent offshore law firm. (Reuters)

Source: www.businessworld.ie

More articles from Technology

image Description

Ireland collects 14.3 billion in total from Apple

Read more
image Description

Visa, Mastercard reach $6.2 bln settlement over card-swipe fees

Read more
image Description

Australian software company opens EMEA base in Cork

Read more
image Description

Microsoft to create 200 new jobs at its Dublin campus

Read more
image Description

Primark's John Lyttle appointed CEO of Boohoo

Read more