Apple Made Over $6 Billion In Australia Last Year But Paid Only $36 Million Tax

Apple Australia reportedly paid just $36 million tax last year despite record local revenue of $6.1 billion.

Annual figures lodged with the Australian Securities and Investments Commission show Apple increased revenue two per cent for the year to September 2013 from $5.99 billion the previous year.

The Financial Review says Apple had paid less in tax locally last year than the previous two years.

Apple reported a drop in profits before tax of $88.5 million, after paying a $154 million dividend in March to its parent in the United States. The previous year it paid $40 million in Australian taxes.

The Financial Review says the tech giant is credited with formulating accounting measures that enable the company to shift profits to subsidiaries in Ireland, the Netherlands and Bermuda in order to minimise tax paid in some economies.

There’s more here.

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