Apple paid less than 2% corporation tax outside US: Report
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Apple paid less than 2% corporation tax outside US: Report

Last Updated: Monday, November 05, 2012, 11:33
 
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Apple paid less than 2% corporation tax outside US: Report
London: California-based tech giant Apple had paid less than two percent corporation tax on its profits outside the US, it has emerged.

Apple paid 713 million dollars in the year to 29 September on foreign pre-tax profits of 36.8 billion dollars, a rate of 1.9 percent.

Apple's figures for foreign tax appeared on its filing with the US Securities and Exchange Commission (SEC), the BBC reports.

The form is used to summarise the performance of public companies, it added.

According to the report, it had paid a rate of 2.5 percent the previous year.

Apple channels much of its business in Europe through a subsidiary in the Republic of Ireland, which has lower corporation tax than Britain.

But even Ireland charges 12.5 percent, compared with Britain’s 24 percent, the report said.

Apple is the latest firm to be identified as paying low rates of overseas tax, following Starbucks, Facebook and Google in recent weeks.

ANI


First Published: Monday, November 05, 2012, 11:33


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