Apple tax avoidance plan laid bare in leaked documents

Security staff stand outside an Apple shop early morning on the release day of the new iPhone X in Paris on November 3, 2017. / AFP PHOTO / PHILIPPE LOPEZ

SAN FRANCISCO: Apple shifted much of its offshore wealth from Ireland to a tax haven in the British Isles, according a review of leaked Paradise Papers documents on Nov 6. 

Apple confirmed the move in an online post, saying it served to “ensure that tax obligations and payments to the US were not reduced.”