MacNN | Apple avoided UK corporation tax in 2012, report says
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Apple avoided UK corporation tax in 2012, report says
Monday, July 1, 2013 @ 1:29pm

Apple paid no UK corporation tax for 2012, according to new filings. The Financial Times reports that Apple escaped paying taxes through deductions on share awards to its workers. This is despite the company's three main British subsidiaries -- Apple UK, Apple Europe, and Apple Retail UK -- pulling in a combined 68 million in pre-tax profits. The deductions amounted to 27.7 million.



During 2011, by contrast, Apple paid the UK government 11.4 million. The company has come under fire for its tax practices, but mainly in the US. Most of the company's cash reserves are held overseas. In 2011, 84 percent of its non-US operating income flowed through Apple Sales International, an Irish subsidiary with no tax residency that paid a tax rate of just 0.05 percent.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • Apple facing India lawsuit over similar 'iFon' trademark - 12:23 AM EST

    Today's iPodNN Stories:
  • Amazon executive blames bad pricing for lacking Fire Phone sales - 1:59 PM EST
  • Spanish government orders Google to pay publishers for news story use - 12:18 PM EST
  • Briefly: Razer Naga Epic Chroma, UK gains 1,000 free Wi-Fi hotspots - 11:03 AM EST
  • Hungarian prime minister backs down from Internet tax proposals - 8:09 AM EST
  • Samsung Galaxy A5, A3 introduced with metal unibody design - 7:02 AM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.