Apple secretly moved key parts of its company to Jersey amid widespread criticism and a crackdown on tax loopholes in Ireland, an analysis of leaked documents by the International Consortium of Investigative Journalists (ICIJ) show.
Nevertheless, the Jersey Financial Services Commission, as well as the States, have said they wish to investigate the dealings of Esplanade-based law firm Appleby, whose documents - exposed after the company was targeted by hackers past year - have revealed details of the deals used by conglomerates and wealthy individuals to reduce their tax bills. "Before the Senate considers tax reform we must fully investigate offshore tax haven abuse and come up with legislative solutions to prevent the wealthiest people and most profitable corporations in America from dodging USA taxes".
At the start of 2015, the company restructured its affairs in Ireland, and changed the tax residency of Apple Sales International (ASI) and Apple Operations International (AOI) to Jersey, allowing them to maintain their ultra-low tax rates. Ms Vestager ruled in August a year ago that Ireland had granted the company illegal state aid in the form of generous tax benefits which allowed the California-based company to pay nearly no tax on much of its global sales. It revealed that he avoided paying taxes on his £16.5 million private jet through Appleby, which has offices on the Isle of Man.
The ICIJ said Apple began looking for a new tax avoidance strategy after the US Senate subcommittee said in 2013 that Apple shifted its profits away from the United States and into Ireland to dodge US taxes.
The tax savings came from Nike's use of an offshore subsidiary which charged royalties to the company's European subsidiaries, the report said. The documents, known as the Paradise Papers, also connect Commerce Secretary Wilbur Ross to a Russian company owned by Vladmir Putin's son.
The billionaire investor told Bloomberg on Monday he was not intending to hold onto his stake: "I've been actually selling it anyway but that isn't because of this".
Kyodo News and other media outlets are in partnership with the ICIJ.
There were also reverberations in South America, where the name of Argentina's Finance Minister Luis Caputo also turned up in the "Paradise Papers".
The revelations prompted opposition calls for his resignation.
"We believe every company has a responsibility to pay the taxes they owe and we're proud of the economic contributions we make to the countries and communities where we do business".
A German newspaper was leaked more than 13 million documents from the law firm. "There is no particular need", she said.
The Paradise Papers disclosures come as President Trump's administration seeks to overhaul the US federal tax code.