Australia’s TheAge details this morning how despite earning a profit of $900 million on revenue of over $9 billion in 2018 in Australia, Apple’s tax bill shrunk by nearly $19 million. This brought the company’s total Australian tax bill to $164 million.
The Australian Tax Office’s latest transparency report reveals that Apple, alongside the other mega tech behemoths, pay a 30% tax rate. TheAge continues with:
Had Apple paid taxes on those “unspecified” expenses, the company would have paid a bill around $400 million.
The accounts do not explain what the additional expenses were and spokesman [sic] for the American giant would not comment.
Dr. Mark Zirnask, from Tax Justice Network, pondered if the country has “done enough” to change the tax paying behavior of corporations.
Prior to that, Apple faced a tricky situation in Ireland, where it was ultimately forced to pay $1.4 billion to the country — plus interest. The company is appealing, though.
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