Who are the rich and famous in the Paradise Papers?

Tammy Harvey
November 8, 2017

The news outlet and the non-profit investigative organization cited confidential records that were obtained by the German newspaper Suddeutsche Zeitung and shared.

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

Apple secretly moved key parts of its company to Jersey amid widespread criticism and a crackdown on tax loopholes in Ireland, an analysis of leaked documents by the International Consortium of Investigative Journalists (ICIJ) show. But while the other two Irish companies took up residency in Jersey, Apple Operations Europe became tax resident in Ireland, the country of its incorporation. For instance, the company said its 2015 corporate reorganization was "specially created to preserve its tax payments to the United States, not to reduce its taxes anywhere else".

It said the new structure had not lowered its taxes, and stated that it remained the world's largest taxpayer, paying about $35bn in corporation tax over the past three years.

ABC's Four Corners on Monday night revealed Nike sold around $500 million of sportswear in Australia a year ago, but recorded profits of just 2 per cent of its sales, therefore paying just $4.5 million in tax.

Last year, the European Commission ordered Ireland to collect back taxes of up to $14.5bn from Apple, having previously ruled that the firm's tax deals in the country constitute "illegal state aid".

"I have been asking for an update on the arrangement made by Apple, the recent way they have been organized, in order to get the feeling whether or not this is in accordance with our European rules but that remains to be seen", Vestager told a news briefing at an worldwide tech summit in Lisbon.

Apple would thus appear to have switched tax shelter strategies from the Caribbean "Double-Irish-Flip" to a "Jersey Isle".

"As part of these changes, Apple's subsidiary which holds overseas cash became resident in the U.K. Crown dependency of Jersey, specifically to ensure that tax obligations and payments to the US were not reduced", the company said.

"That remains to be seen if we will open more cases after the Paradise Papers". The company didn't immediately respond to requests for further comment on its worldwide tax arrangements. The Irish government expanded its tax deductions for companies that move rights to intellectual property, including patents and trademarks, into Ireland.

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. You shifted it to three companies that do not pay taxes in Ireland.

In Budget 2014, following months when the Government here faced repeated attacks over a low corporation tax rate and its popularity with global brands such as Apple, Facebook and Google, the Government moved to rebuild its reputation overseas.

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