UK Furious Over Apple Tax Bill – Apple is in the news again but for all the wrong reasons this time. Not that the hi-tech company known for its set of very fashionable ‘i’ products has done anything wrong. Not legally anyway. Apple has recently paid its UK corporation tax bill, a huge sum to most of us at £12 million. However, on an estimated UK profit of £2 billion it is short by the princely sum of £400 million according to some tax experts.
How does Apple get away with this? It is certainly not the first time they have fallen short. The answer is they employ their own tax experts to ensure they adhere to the exact letter of the law and pay only what is due. The problem for the UK Government is that they have an antiquated corporate tax system. It is so full of legal loopholes that large corporations such as Apple, who can afford to pay expensive tax consultants, exploit the weaknesses.
This all might seem a bit unfair, but any anger UK citizens may have should be directed at the UK Government rather than Apple. It is unlikely any company, large or small when presented with an option to pay less tax, will forgo the option!
An Apple spokesman recently said: “We have been operating in the UK for over 35 years and are extremely proud of Apple’s many contributions to the British economy. We follow all relevant laws and pay all the taxes we owe.”
And they have. We might not like it, but the facts are the facts.