According to reports, Apple might be skipping out on tax in Britain, dodging it using offshore subsidiaries based in Ireland and the British Virgin Islands. It apparently paid just £10.3m in 2010 in tax despite sales totalling to an estimated £6bn in the UK just when the government needs as much tax as it can get its hands on.
The Telegraph reports that the government is “under pressure to launch a crackdown” after the revelations of Apple’s low corporation tax payout. Last month’s Budget brought with it a vow to investigate and stop “morally repugnant” tax dodging. We’ve already seen Vodafone be accused of the same thing, and Amazon is reportedly under investigation too.
It’ll be interesting to see what comes of this. There can be no doubt that Apple is no longer the underdog, and considering how much money it turns over in both the UK and aboard, it’ll come under closer scrutiny over these kinds of things. It’s no secret that I love some of Apple’s products, but I don’t have to love the company, especially if this turns out to be true. [The Telegraph]
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