Monday, November 6, 2017

This tiny island helps Apple avoid billions in taxes

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A giant amount of Apple's profits answer to the tax laws of no nation.

Jersey is an island floating in the English Channel, a bit closer to France than the United Kingdom, and, according to information obtained by the German media outlet Süddeutsche Zeitung, distributed by the International Consortium of Investigative Journalists, and published by The New York Times, it is the tax home to subsidiaries of Apple that help the giant corporation avoid paying taxes on billions of dollars.

Jersey is one of those places the average person isn't likely to know much about unless they a) were born there, b) spend a lot of time coming up with offbeat vacation destinations, or c) are working with (or are a member of) a ginormous company that doesn't like taxes.  Read more...

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