This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-20197710
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Apple paid only 2% corporation tax outside US | Apple paid only 2% corporation tax outside US |
| (about 1 hour later) | |
| Apple paid less that 2% corporation tax on its profits outside the US, its filing with US regulators has shown. | 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%. | 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 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 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 National Insurance and raise large sums of VAT. | |
| Apple's figures for foreign tax appear on page 61 of its form 10k filing with the Securities and Exchange Commission (SEC). | 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. | 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. | 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%. | 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. | Many multinational companies manage to pay substantially below the official corporation tax rates by using tax havens such as Caribbean islands. |