Please create an account to participate in the Slashdot moderation system

 



Forgot your password?
typodupeerror
Apple

Submission + - Apple Avoids $1bn Tax Each Week->

mrbluze writes: As part of a wider investigation in the UK, it is revealed that by entirely legal means, Apple manages to avoid paying $1 billion in tax obligations to the US Government, paying only 2% of its overseas profits as tax.

Apple is estimated to have avoided more than £550m in tax in Britain in 2011. Its latest accounts show UK turnover at just over £1bn and profit at £81.3m, generating a tax bill of £14.4m.

However, analysis of its filings in America suggest a more realistic figure for UK turnover is £6.7bn. This would imply an estimated profit of £2.2bn and, at the then corporation tax rate of 26pc, a £570m tax bill, the Sunday Times reports.


Link to Original Source
This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

Apple Avoids $1bn Tax Each Week

Comments Filter:

Gosh that takes me back... or is it forward? That's the trouble with time travel, you never can tell." -- Doctor Who, "Androids of Tara"

Working...