Technology giant Apple shuttled $11bn (£7bn) into offshore tax havens in the fourth quarter of 2012, an analysis of its corporate filings has revealed.
The iPad maker has slashed its tax bill by paying less than 2pc on its overseas profits, as it moves money through offshoots in low-tax countries such as the British Virgin Islands.
Apple's completely legal tax avoidance strategies bring the total the company has sheltered from the US tax authorities to $94bn, according to a Sunday Times analysis.
Corporation tax on Apple's overseas operations amount to just 1.9pc of profits, compared with a tax rate of up to 24pc in the UK and 35pc in the US. Full story...
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The iPad maker has slashed its tax bill by paying less than 2pc on its overseas profits, as it moves money through offshoots in low-tax countries such as the British Virgin Islands.
Apple's completely legal tax avoidance strategies bring the total the company has sheltered from the US tax authorities to $94bn, according to a Sunday Times analysis.
Corporation tax on Apple's overseas operations amount to just 1.9pc of profits, compared with a tax rate of up to 24pc in the UK and 35pc in the US. Full story...
Related posts:
- Apple paid only 2% corporation tax outside US...
- How Apple avoids paying billions in taxes...
- I love Apple but I won't tolerate it's tax cheating...
- Microsoft, HP avoided paying billions in taxes...
- Google pays just £6m UK tax on revenue of £3.95bn...
- Anger grows over IMF chief Lagarde's tax-free salary.
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