Feeds

Apple dodged all UK corporation tax in 2012

Taxes minus deductions, add relief, carry the one...

Beginner's guide to SSL certificates

Apple didn't pay any corporation tax in the UK last year, according to its latest filings in the country, adding to controversy at home about its imaginative tax planning.

The fruity firm's main British subsidiaries Apple (UK), Apple Europe and Apple Retail UK reported pre-tax profits between them of £68m in the year to September 2012 and made tax deductions related to share schemes alone of £27.7m, more than wiping out its liabilities. The firm paid £11.4m in corporate tax in 2011, on £60.4m operating profit.

The iDevice-pusher is already in trouble in the US, where a Senate committee said that it had "created offshore entities holding tens of billions of dollars while claiming to be tax resident nowhere". The committee added that the firm seemed to have an effective overseas tax rate of less than two per cent from shifting profits around.

Senators accused Apple of avoiding $10bn of US tax every year by holding the intellectual property rights for its products in Ireland. In 2011, 84 per cent of the firm's non-American operating income was pushed through Apple Sales International, a division that turns out not to be tax resident anywhere.

Apple joins fellow internet firms Amazon and Google among the unfortunate poster-companies of corporations refusing to pay their "fair share" while regular folks suffer under the weight of grimmer and grimmer austerity measures.

In Blighty, the Public Accounts Committee has called on the government to revamp tax rules to close the loopholes that allow for "highly contrived" tax arrangements.

Apple had not returned a request for comment at the time of publication. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.