People are shocked with the release of trove of documents from the little slice of heaven that is Bermuda. This leak is named as Paradise Papers. Just like Panama Leaks, Paradise Papers is a world wide investigation into offshore activities of the world’s most powerful people and companies. Tech Giant Apple Reportedly Involved in Paradise Papers Scandal.
Paradise papers is all about how rich and powerful hide their money to avoid tax. The Paradise Papers is a trove of 13.4 million records which clearly shows that how politics and big business are entangled with offshore interests.
Tech Giant Apple Reportedly Involved in Paradise Papers Scandal
The International Consortium of Investigative Journalists (ICIJ) has revealed that the new Paradise papers has suggested that the tech giant Apple is involved in Paradise Papers and was looking for new way to invest its money out of the reach of tax collectors in 2014. Apple has reportedly collected $252 billion mountain of offshore cash.
Paradise Papers has all the emails from Apple’s law firm Baker McKenzie to another firm called Appleby. Appleby is a 119 years old company that is famous for administering offshore tax haven companies.
Appleby is a 119 years old company that is famous for administering offshore tax haven companies
According to the Paradise Papers in emails, Baker McKenzie from Apple is asking Appleby to Confirm that an Irish company can conduct management activities without being subject to taxation. Anyway Apple found a new home for its money in small island in the English Channel called Jersey.
Apple said its new structure did not reduce tax payments in any country and ensured that their tax obligation to the United States was not reduced.