APPLE has become the latest technology company to be accused of avoiding paying tax on UK earnings.
The company is reported to have paid just £10m in UK corporation tax in the last financial year despite earning around £6bn during the same period.
Documents show that Apple's three main UK subsidiaries paid £10.3m in corporation tax in the year to September 25 2010.
Apple joins Amazon and Google in being accused of avoiding UK tax.
Amazon is being investigated by HM Revenue & Customs (HMRC) for possible tax avoidance.
Amazon generated sales of around £7.6bn in the UK, but paid no corporation tax on the profit from that revenue line.
Apple was unavailable for comment.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
Accountancy Age has partnered with Home Learning College to offer you and your trainees a personalised learning experience with an all inclusive package
Join Financial Director and Infor to discover how migrating your ERP resource to the cloud can have a beneficial impact on your company’s profitability
Send to a friend