Report: Apple paid no UK corporation tax in 2012 | iLounge News

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Report: Apple paid no UK corporation tax in 2012

Recent U.K. tax filings have revealed Apple paid no corporation tax last year, despite making about $103 million in pre-tax profits. A report states, “Tax deductions from share awards to employees helped wipe out the corporate tax liabilities of the UK subsidiaries in the year to September 2012.” Apple paid around $17 million in taxes the previous year. The new findings only increase public pressure on the company, as Apple faced questioning from the U.S. Senate’s Permanent Subcommittee on Investigations on tax issues in May. [via Financial Times]

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