Apple dragged into low tax row

Nov 5, 2012

Apple paid only 1.9% tax on profits, adding to controversy over US companies paying low tax rates in Britain

TECH GIANT Apple paid just 1.9% tax on profits made outside the US in the year to September. The iPhone and iPad maker paid $713m (£445m) in overseas corporation tax on foreign profits of $36.87bn (£23bn), The Guardian reports. The perfectly legal tax arrangement is laid bare in filings with the US Securities and Exchanges Commission. The news will pour fuel on the controversy surrounding the low rates of tax paid by US companies in Britain. Amazon, Google and Starbucks were due to appear before the House of Commons public accounts committee today to explain their highly efficient tax affairs.

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