Apple in the Hot Seat for Moving $8.9 Billion in Australian Profit to Ireland
Documents discovered by the Australian Financial Review reveal that Apple has used the "iTax" scheme to move an estimated $8.9 billion in untaxed profits from Australia to Ireland over the past ten years. The scheme, dubbed "iTax" by Sydney University's Dr. Ting, was simplicity itself, and allowed Apple to pay only $200 million in taxes...