TweakTown
Tech content trusted by users in North America and around the world
6,004 Reviews & Articles | 38,752 News Posts

Apple paid just 2% corporation tax on their profits outside of the US

Apple paid only 2% of their corporate tax outside of the United States

| Business, Financial & Legal News | Posted: Nov 5, 2012 7:36 am

Outside of the United States, Apple only paid a slither of their corporation tax - just 2%, according to their filings with US regulators. Apple paid $713 million in the year to September 29 on foreign pre-tax profits of $36.8 billion, a rate of just 1.9%.

 

TweakTown image news/2/6/26557_05_apple_paid_just_2_corporation_tax_on_their_profits_outside_of_the_us.jpg

 

It hasn't been suggested that their tax avoidance is anyway illegal, but considering the record profits they're making, it's a bit of a sour grape. Apple aren't the only ones doing so, with Starbucks, Facebook and Google paying low rates on overseas tax.

 

Apple paid just 2.5% in the previous year, as the company funnels most of their business in Europe through a subsidiary in the Republic of Ireland, which has much lower corporation tax than Britain. Ireland charges just 12.5% compared to Britain's 24%.

NEWS SOURCES:Bbc.co.uk

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts
Check out TweakTown Polls on LockerDome on LockerDome

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases