Nike

Shopping for a Tax Haven: How Nike and Apple Accelerated Their Tax Avoidance Strategies, according to the Paradise Papers

A year and a half after the release of the Panama Papers, a new set of data leaks, the Paradise Papers released by the International Consortium of Investigative Journalists (ICIJ) provides important new information on the tax dodging of wealthy individuals as well as multinational corporations.

The leaked data, about 13.4 million files in total, exposes the tax avoidance schemes and strategies of wealthy and powerful individuals, as well as large corporations. More than 7 million of the files were obtained from the offshore law firm Appleby. The 119-year-old firm is a leading member of the global network of lawyers, accountants, bankers and other operatives who set up and manage offshore companies and bank accounts for clients who want to avoid taxes or keep their finances under wraps.

It is no secret that corporations like Nike and Apple are holding billions of dollars offshore for tax avoidance purposes, but the Paradise Papers give us a deeper look into what these tax avoidance schemes look like, and show that Apple’s leadership has aggressively moved to reinvent these schemes while simultaneously proclaiming their innocence.

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Remarks on Press Call about Nike Shareholder Resolution on Responsible Tax Practices

Clark Gascoigne, the deputy director of the Financial Accountability and Corporate Transparency Coalition (FACT Coalition) delivered remarks on a press call with reporters as the AFL-CIO and Domini Impact Investments announced that they were filing a shareholder resolution with Nike calling for responsible tax practices in the wake of the Paradise Papers leak.

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