Apple Sent Billions Offshore To Avoid Australia Tax, Report Says
Concerns are mounting that global companies, particularly those involved in the digital and Internet sectors, can reduce their tax bills by shifting profits around the world to areas where rates are lowest.
Via AFP:
Apple shifted billions in untaxed profits from its Australian operations to Ireland over the past decade, a report said on Thursday, as the government vowed to stop global companies from dodging their fair share of tax.
An investigation by the Australian Financial Review obtained 10 years worth of financial accounts for Apple Sales International -- an arm of the organisation it described as the "secretive" Irish company at the heart of the group's global tax arrangements.
The newspaper said the US tech giant moved an estimated Aus$8.9 billion (US$8.1 billion) in untaxed profits from Au...