Paradise Papers Show How Misguided the G.O.P. Is on Taxes
https://www.nytimes.com/2017/11/12/opinion/paradise-papers-republicans-taxes.html
A treasure trove of documents given the name of the Paradise Papers was unveiled last week, giving us a clearer idea of how rich people and powerful companies keep their money from the prying eyes of the Internal Revenue Service.
Apple, for example, went hunting for a new tax haven when Ireland, its former shelter, began cracking down. It got help from law firms that specialize in offshore tax shelters to park its $128 billion stash on the English Channel island of Jersey instead. For years, Nike held intellectual property rights in a subsidiary on tax-free Bermuda, and that subsidiary charged fees to its other headquarters, thus shifting the profits to the island and avoiding taxes on them. Now it does the same with a subsidiary that technically resides nowhere at all. Allergan, Facebook and Uber have all been caught doing the same...
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