Apple pares its tax bill on profits made overseas to less than 2%
Monday 05 November 2012
Apple paid less than 2 per cent tax on its overseas profits after slashing the amount foreign taxmen receive.
The iPad and iPhone giant paid $713 million (£445 million) in corporation tax outside the US in the year to September 29, despite its foreign pre-tax earnings surging more than 50% to $36.8 billion, papers filed with US regulators revealed.
The technology giant's overseas tax rate fell to 1.9%, compared with 2.5% the previous year and a headline corporation tax rate in the UK of 24% and 35% in the US. Apple channels much of its European business through Ireland, where the corporate tax rate is just 12.5%.
The firm is the latest to come under scrutiny for making a poor contribution to overseas coffers after Starbucks, Facebook and Google met similar criticism.
- 1 PlayStation and Xbox hacked by Lizard Squad
- 3 The Grace Dent Christmas Questionnaire
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall set to push even more bargain-hunters online for sales
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...