Sunday Times * Home Section Home * News Section News * Sport Section Sport * Business Section Business * Comment Section Comment * News Review Section News Review * Culture Section Culture * Style Section Style * Travel Section Travel * Driving Section Driving * Magazine Section Magazine * Papers Section Papers Welcome to your preview of the Sunday Times Subscribe now * Home * / Business * / Tech & Media No script ads will arrive soon! News News * * Print Previous * 1 * ... * 23 * 24 * 25 * 26 * 27 * ... * 100 Next page Show all Apple stuffs $1bn a week into tax havens Simon Duke Published: 27 January 2013 * * Print iPhone display showing Apple share performance Apple kept £7bn from tax APPLE is stashing almost $1bn a week beyond the reach of the American taxman after ramping up efforts to slash its bill. The Silicon Valley company squirrelled away more than $11bn (£7bn) in its warren of subsidiaries in low-tax countries and tax havens in the final three months of 2012. This legitimate manoeuvre raises the amount of cash Apple has shielded from the American authorities to a colossal $94bn, according to documents filed last week. The revelation will inflame public anger over tax avoidance by large corporations, which is raging on both sides of the Atlantic. Apple last week lost its crown as the world’s most valuable company, yet it remains one of the world’s most profitable businesses. Since the launch of the iPhone in 2007, its cash pile has swollen from about $15bn to $137bn. The company parks most of its cash overseas, hidden from America’s Internal Revenue Service. Subscribe now Login Already a subscriber? To see the full article you need to subscribe Subscribe Login Related Articles Related Articles * The worm has turned for Apple 27 January 2013 * Cameron tax blitz wins bosses’ vote 27 January 2013 * Revealed: Apple takes bigger bite out of tax bill 4 November 2012 * Apple downloads another $10bn 21 October 2012 * The Untaxables 30 September 2012 * Apple’s cash crisis (it’s got too much money) 5 August 2012 No script ads will arrive soon! 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