Apple’s latest UK tax bill: £12.9M, the equivalent of just two hours of global profits
Apple Store in Covent Garden, London
With a long-running EU investigation into the legality of Apple’s tax arrangements in Europe still showing no signs of reaching a conclusion, the size of last year’s UK tax bill isn’t likely to help its cause. Apple’s latest accounts show that it paid just £12.9M ($17M) in UK corporation tax despite making an estimated £2B ($2.6B) profit in the country.
As the Mail Online notes, this is the equivalent of just two hours’ profits on its global sales …