Apple pays HMRC a further £137 million in taxes

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  • After an audit by UK tax body HM Revenue and Customs (HMRC), Apple Europe has agreed to pay over £137 million in extra taxes, as reported by The Guardian.

    Apple operates two subsidiaries in the UK called Apple Europe Ltd and Apple Retail UK Ltd.

    Apple Europe Ltd provides marketing, financial and support services, and Apple Retail UK Ltd runs Apple’s online and physical stores across the UK.

    As noted by The Guardian, Apple Europe reported a pre-tax profit of £297 million in the 18 months to April 1st 2017.

    During this time, it paid taxes of £57 million and £137 million in back taxes.

    Apple Retail UK made £17.6 million in pre-tax profits on more than £1 billion in turnover, and paid £13.8 million in taxes for the 12 months to September 2016.

    In a statement Apple said, “We know the important role that tax payments play in society. Apple pays all that we owe according to tax laws and local customs in the countries where we operate.

    “As a multinational business and the largest taxpayer in the world, Apple is regularly audited by tax authorities around the world. HMRC recently concluded a multiyear audit of our UK accounts and the settlement we reached with the HMRC is reflected in our recently filed accounts.”

     

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