Not all heroes wear capes. Some heroes wear business suits and work as accountants and lawyers who specialized in defending their client’s assets from thieving governments:
The world’s most profitable firm has a secretive new structure that would enable it to continue avoiding billions in taxes, the Paradise Papers show.
They reveal how Apple sidestepped a 2013 crackdown on its controversial Irish tax practices by actively shopping around for a tax haven.
It then moved the firm holding most of its untaxed offshore cash, now $252bn, to the Channel Island of Jersey.
Apple said the new structure had not lowered its taxes.
It said it remained the world’s largest taxpayer, paying about $35bn (£26bn) in corporation tax over the past three years, that it had followed the law and its changes “did not reduce our tax payments in any country”.
The article appears to be implying that Apple is lying about its tax payments not changing. However, I’m betting that Apple is being truthful and the move prevented its tax payments from increasing after the crackdown in Ireland (Ireland had a sweet deal until its neighbors, upset that Ireland was getting a lot of business, put pressure on it to bring its corporate tax structure up to their standards).
The accountants and lawyers that Apple hired to pull this off deserve the same applause as anybody else who stops a thief from mugging another person. Unfortunately, the world is populated with statists so those heroes will be treated like villains.
2 thoughts on “Not All Heroes Wear Capes”
While the Libertarian brand is often a hard sell, I’ve often wondered is a Sustainable Government movement might be more palatable.
I don’t think so since government cannot be made sustainable.
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