Featured Articles

Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia adjusts GTX 980 and GTX 970 pricing

Nvidia adjusts GTX 980 and GTX 970 pricing

It appears that Nvidia has been feeling the pulse of the market and took some note from comments regarding the original…

More...
iPhone 6 and 6 Plus reviews are up and they are good

iPhone 6 and 6 Plus reviews are up and they are good

Apple is dancing the same dance year after year. It releases the iPhone and two days before they start shipping it…

More...
Amazon announces three new tablets

Amazon announces three new tablets

Amazon has just released three new tablets starting with the $99 priced 6-inch Kindle Fire HD6. This is a 6-inch tablet…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 19 February 2013 11:26

Apple in trouble with British taxman

Written by Nick Farrell



Pays less than 2 per cent tax

There have been calls for Jobs’ Mob to be investigated in the UK after returning a tax bill which was less than two per cent. 

According to the Daily Telegraph Apple moves money through offshoots in low-tax countries and secretive tax havens, such as the British Virgin Islands. Apple avoided more than £550 million in tax in Britain last year. New documents have revealed that Apple paid $713 million corporation tax abroad in the year to September 30, on profits of $36.8 billion.

Apple has always managed to avoid paying a lion’s share of tax. The year before it only paid 2.5 per cent, but now it appears the outfit is getting better at avoidance. Its overseas tax rate fell to 1.9pc which is significantly below the corporate tax rate of 35 per cent in the US and 24 per cent in Britain. Apple is channelling much of its business in Britain and Europe through a subsidiary on an industrial estate in County Cork. Ireland’s corporation tax is about half the UK level, Apple pays less as profits end up being siphoned off to related companies in Caribbean tax havens. 

UK PM David Cameron has already called for an investigation into multinational companies using tax loopholes. After all it looks jolly embarrassing if a government spends all its time telling the world that it was important companies to grow and then they do nothing to contribute to the country they are based in.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments