After a Tax Crackdown, Apple Found a New Shelter for Its Profits

After a lengthy inquiry, the committee found that the company had avoided tens of billions of dollars in taxes by shifting profits into Irish subsidiaries that the panel’s chairman called “ghost companies.” “We pay all the taxes we owe, every single dollar,” Mr. Cook declared at the hearing. Five months after Mr. Cook’s testimony, Irish officials began to crack down on the tax structure Apple had exploited.

Source: www.nytimes.com