However, the firm had counterbalanced tax deductions concerning share schemes of £27.7m against its corporation tax liability in the UK, which also allowed it to claim a tax credit of about £3.8m to carry forward to years ahead.
In May 2013, a US Senate committee alleged that Apple used a complex web of offshore entities including three foreign subsidiaries to dodge taxes in the US.
Apple was also alleged of avoiding $9bn tax bill through the proceeds from its $17bn bond issue to pay shareholders rather than getting $100bn cash stashed abroad.
Apart from Google, Amazon’s tax arrangements in Britain also continue to be under scrutiny after the Guardian reported that the company’s UK subsidiary paid £3.2m of tax, despite generating £4.2bn sales in the country.
This article is from the CBROnline archive: some formatting and images may not be present.
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