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Apologies, the British Virgin Islands, not Bermuda. "Apple has assigned partial ownership of its Irish subsidiaries to Baldwin Holdings Unlimited in the Britis
by justincormack 10y ago
Apologies, the British Virgin Islands, not Bermuda.
"Apple has assigned partial ownership of its Irish subsidiaries to Baldwin Holdings Unlimited in the British Virgin Islands, a tax haven, according to documents filed there and in Ireland. Baldwin Holdings has no listed offices or telephone number, and its only listed director is Peter Oppenheimer, Apple’s chief financial officer, who lives and works in Cupertino. Baldwin apples are known for their hardiness while traveling."
http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html?_r=0 http://www.nytimes.com/2012/04/29/business/apples-tax-strate...
- nodamage 10y agoBaldwin Holdings Unlimited appears to be a shareholder, not a subsidiary, with one share of ownership (amounting to .01%) of Apple Operations International and one share of ownership in a few other of Apple's Irish subsidiaries. Aside from holding one nominal share in each of the Irish subsidiaries, this company does not appear to be materially significant to Apple's international operations, and I can find no evidence that Apple's international profits have been transferred to this company. From what I can tell, Apple's money remains in Ireland, where they already enjoy an extremely low tax rate, and therefore have no reason to move it out. (Of course, this is why the EU is going after them now.)