Apple accused of tax evasion in UK

On April 10, 2012, in Earnings, uk, by Marlon Sabala

According to the dailymail Apple is now under scrutiny over it’s financial operations in the UK. They are accused of hiding behind Irelands 12.5% corporate tax, as well as the British Virgin Islands to avoid the heftier 24% tax of the mainland.

It is estimated that Apple has made £6billion in revenue in this country, but the tax man got only 0.17% of that.

It is too early to tell what is really going on. I doubt Apple is lying to the taxman, as much as they are using every possible legal loop or manoeuvre to pay less.

A lot of people are going to get upset over this. I reserve my judgment for now. But I will say this: before you go on slamming any company over these issues, just imagine if you’re iDevices suddenly cost 10-20% more, because you bet the cost would be handed over to us, the buyers. 

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