Trending

Filed under: News | Apple

 

Apple Did Not Pay UK Corporation Tax in 2012

Apple has reportedly not paid corporate taxes in the UK during last fiscal year ended on September 2012. Apple earned an operating profit of £68 million and paid nothing in terms of corporation tax to the government of UK.

Jul 1 2013, 3:04pm CDT | by

1 Updates
Apple Did Not Pay UK Corporation Tax Last Year
 
 

YouTube Videos Comments

Full Story

Apple Did Not Pay UK Corporation Tax in 2012

Apple Did Not Pay UK Corporation Tax Last Year

Apple Inc. is a giant tech firm but it still dodges its taxes. It is being reported that Apple paid no corporate taxes in the U.K. during last fiscal year. The Financial Times report reveals the fact that Apple's latest filings show that it gained profit of $103.6M (£68m) in 2012. Despite of its big profit, the tech giant did not pay a single penny in terms of tax to the U.K. government. But it paid £11.4 million in terms of tax to the U.K. authorities on its operating profit of £60.4m in 2011.

But Apple's CEO stated during D11 conference in May that its company did not dodge any taxes. Tim Cook has to give explanation because in same month, US Senate Committee stated that Apple “left very small earnings, and correspondingly small tax liabilities, in countries around the world”. It actually accused Apple of dodging $10 billion of US tax in a year.

Apple is managed to dodge U.K. taxes with the help of made stock awards schemes. The company made tax deductions by awarding £27.7M stock awards to employees. The award money is deductible and Apple adjusts all of its taxes in it. Now Apple has to pay no money in terms of taxes. But this is not fair. It is also not suitable to the image of a big company like Apple.

Image Credit: Getty Images

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest technology trends.

 

 

Comments

blog comments powered by Disqus

Latest stories

Jordan XX9 Running Shoes Introduced
Jordan XX9 Running Shoes Introduced
With oodles of pixels involved in its makeup, the Jordan XX9 is a new brand of highly sophisticated running shoes by Nike.
 
 
Dropbox Acquires Photo Sync App Loom and Document App Hackpad
Dropbox Acquires Photo and Document Management Startups Loom and Hackpad
Dropbox has become a black hole for apps. It has acquired two more startups, the document collaboration tool Hackpad and photo management app Loom as fundamental assets in its list of possessions.
 
 
Laura Prepon Tom Cruise Dating
Laura Prepon Tom Cruise Dating
Laura Prepon and Tom Cruise are dating secretly in Tinsel town. The two seem absolutely smitten with each other.
 
 
Porsha Stewart Charged
Porsha Stewart Charged
Porsha Stewart has been charged over her recent catfight with fellow Real Housewives of Atlanta star Kenya Moore. Arrest warrant issued for the beautiful ROHA star, Porsha Stewart.
 
 
 

The Hottest Photos of Victoria's Secret Fashion Show 2013