` While Americans pay their `Taxes ' Corporations like `Apple ' avoid theirs by moving billions to `Tax Havens '
#AceFinanceNews says Apple has shifted billions in untaxed profits from its Australian operations to Ireland over the past decade, a report said on Thursday.
The Australian Financial Review obtained 10 years’ worth of financial accounts for Apple Sales International – an arm of the organization it described as the “secretive” Irish company at the heart of the group’s global tax arrangements, AFP reported.
The newspaper said the US tech giant moved an estimated US$8.1 billion in untaxed profits from Australia to a tax haven structure in Ireland, paying just 0.7 percent of its turnover in tax.
Apple in Australia has previously said it has done everything required by the tax office.