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Apple next in the list of low overseas tax payers

in International Business

Apple next in the list of low overseas tax payers

Apple is reported to have paid less than 2% corporation tax on its profits outside the US.

It is the latest in the list of companies, including Starbucks, Facebook and Google, that have paid the lowest overseas tax, having paid USD 713mn on foreign pre-tax profits of USD 36.8bn in the year to 29 September.

In the previous year, the companies paid a rate of 2.5%.

Apple channels much of its business in Europe through a subsidiary in the Republic of Ireland, which charges 12.5% compared with Britain’s 24%.

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