According to the BBC: Apple's total profits for the year were up 24%
but Apple paid less that 2% corporation tax on its profits outside the US, its
filing with US regulators has shown.
Apple paid $713m (£445m) in the year to 29 September on
foreign pre-tax profits of $36.8bn (£23.0bn), a rate of 1.9%. It is the latest company to be identified as
paying low rates of overseas tax, following Starbucks, Facebook and Google in
recent weeks.
It has not been suggested that any of their tax avoidance
schemes are illegal.
It had paid a rate of 2.5% 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%, compared with Britain's 24%.
Many multinational companies manage to pay substantially below the
official corporation tax rates by using tax havens such as Caribbean islands…
More? Check out http://www.bbc.co.uk/news/business-20197710
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