BBC News, 4
November 2012
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Apple's total profits for the year were up 24% |
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.
All of the
companies do pay considerable amounts of other taxes in the UK such as VAT and
National Insurance.
Apple's
figures for foreign tax appear on page 61 of its form 10k filing with the
Securities and Exchange Commission (SEC).
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.
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