An investigation by The Australian Financial Review found that tech giant Apple has diverted an estimated $8.9 billion from operations based in Australia to Ireland to avoid their tax responsibilities.
Last year, Apple declared their pre-tax earnings at only $88.5 million after it diverted around $2 billion in income to Ireland via Singapore, where it was found out that the company negotiated a tax deal back in 2009. The investigation has accumulated 10 years worth of documentation regarding the company’s secret arrangements with the Irish based company, Apple Sales International.
Apple is not the first international company called out for their tax issues, as Google and Microsoft has also been warned by the G20 to reform their tax arrangements until November.
Read more about this on the Age website.
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