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Home >> News Brief

Apple pays 137 mn extra corporate tax to HM Revenue
By TII News Service
Jan 11, 2018 , London


AFTER an extensive audit of Apple's accounts in the U.K. by Her Majesty's Revenue and Customs (HMRC), Apple's European arm paid more than £100 million in additional corporate tax to the tax authority.

In its latest full accounts, posted on the U.K.'s Companies House website on January 8, 2018, Apple Europe Ltd. reported that it has agreed to pay a 'corporate income tax adjustment' of £137 million covering prior years up to September 26, 2015. HMRC got Apple Europe, one of the company's U.K. subsidiaries engaged in marketing and sales for other Apple subsidiaries to agree to the extra charges, after pointing out that it had not received an appropriate commission on sales leads generated for the Irish-based subsidiary.

The accounts also indicate that in the 18-month financial period ending April 1, 2017, Apple Europe paid £57.4 million in corporation tax at a rate of 20%, which was slightly lower than the 20.5% it paid in 2015. The company's pre-tax profit was £297 million, and the total tax it paid on its profit on ordinary activities was £192.3 million, according to the accounts.

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