- Apple started booking profits through Jersey after the Irish government started to clamp down on the company’s tax affairs in Ireland.
- Apple said it has operated within the rules of the law and that it’s paid more tax than any other company or individual.
Apple said it is the largest tax payer in the world and that it hasn’t broken any laws after leaked documents showed it has been booking billions of dollars of profits through Jersey, a small island in the English Channel.
The iPhone maker hit back after a series of reports on Monday questioned Apple’s tax affairs, which were revealed as part of the Paradise Papers.
With help from lawyers including Applebys, Apple reportedly started channelling its profits through the offshore tax haven of Jersey after Ireland started to clamp down on the amount of tax Apple was paying there.
In a statement on Apple’s website, the company said it has paid $35 billion (£26 billion) in corporate income taxes over the last three years.
“The debate over Apple’s taxes is not about how much we owe but where we owe it. As the largest taxpayer in the world we’ve paid over $35 billion in corporate income taxes over the past three years, plus billions of dollars more in property tax, payroll tax, sales tax and VAT.
“We believe every company has a responsibility to pay the taxes they owe and we’re proud of the economic contributions we make to the countries and communities where we do business.”
Apple has accumulated more than $128 billion (£97.4 billion) in profit offshore, according to The New York Times, which says the figure is likely to be much higher. Apple’s offshore profits aren’t taxed by Read More Here