The Irish loophole behind Apple’s low tax bill

Apple’s ability to shelter billions of dollars of income from tax has hinged on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs.

A US Senate investigation has revealed that Apple, maker of iPhones, iPads and Mac computers, had channelled profits into Irish-incorporated subsidiaries that had “no declared tax residency anywhere in the world”.

via Business feed http://www.scmp.com/business/companies/article/1243285/irish-loophole-behind-apples-low-tax-bill