Apple’s latest UK tax bill: £12.9M, the equivalent of just two hours of global profits

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Apple’s latest UK tax bill: £12.9M, the equivalent of just two hours of global profits

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<p>With a <a href="http://9to5mac.com/2016/03/07/apple-tax-investigation-europe/" target="_blank">long-running[/url] EU <a href="http://9to5mac.com/2014/06/10/eu-launching-formal-investigation-into-apples-tax-practices-in-ireland/" target="_blank">investigation[/url] into the legality of Apple’s tax arrangements in Europe still showing no signs of reaching a conclusion, the size of last year’s UK tax bill isn’t likely to help its cause. Apple’s latest accounts show that it paid just £12.9M ($17M) in UK corporation tax despite making an estimated £2B ($2.6B) profit in the country.</p>
<p>As the <a href="http://www.dailymail.co.uk/news/article-3660737/Apple-paid-just-12-9m-UK-tax-year-despite-making-money-cover-entire-bill-TWO-HOURS.html" target="_blank">Mail Online[/url] notes, this is the equivalent of just two hours’ profits on its global sales …</p>
<p> <a href="http://9to5mac.com/2016/06/27/apple-tax-uk-europe/#more-436988" class="more-link">more…[/url]</p>
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Source: Apple’s latest UK tax bill: £12.9M, the equivalent of just two hours of global profits