Despite a local revenue of over $8 billion, Apple paid just $85 million in Australian income tax last year, accounts filed with the corporate regulator reveal.
This figure is slightly up from the $80.3 million it paid in the previous year.
The world’s most valuable company is currently under audit by the Australian Taxation Office alongside a number of technology giants for corporate tax avoidance.
Apple says that it pays all the tax it owes and its profit after tax last year was $123 million, down from $171.5 million the year before despite higher revenue. The company says it recorded higher marketing, sales and distribution expenses of $435 million which contributed to the gap.
However, the company said in their global accounts release this morning that their tax figure could change pending the investigation.
“The Australian Taxation Office is currently auditing the company’s tax position for 2012,” it said.
“As at the date of this report, the outcome of the tax audit cannot be predicted with certainty and reliably estimated, no adjustments have been recognised in the financial statements.”
Apple, like many tech companies with a presence in Australia has been accused over the last few years of using a “double Irish sandwich” tax structure, pushing its profits to Ireland where the taxation rate is significantly less.
Apple Australia and New Zealand managing director, Tony King, denied these claims at a senate inquiry last year, saying Apple purchases its products from overseas operations then resells them here. Apple then gets taxed on local profit.
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