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Mon Nov 6, 2017, 03:12 PM

After a Tax Crackdown, Apple Found a New Shelter for Its Profits


The tech giant has found a tax haven in the island
of Jersey, leaving billions of dollars untouched
by the United States, leaked documents reveal.

Tim Cook was angry.

It was May 2013, and Mr. Cook, the chief executive of Apple, appeared before a United States Senate investigative subcommittee. After a lengthy inquiry, it found that the company had avoided tens of billions of dollars in taxes by shifting profits into Irish subsidiaries that the panel’s chairman called “ghost companies.”

“We pay all the taxes we owe, every single dollar,” Mr. Cook declared at the hearing. “We don’t depend on tax gimmicks,” he went on. “We don’t stash money on some Caribbean island.”

True enough. The island Apple would soon rely on was in the English Channel.

https://www.nytimes.com/2017/11/06/world/apple-taxes-jersey.html?emc=edit_ta_20171106&nl=top-stories&nlid=50533710&ref=headline&_r=0

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