Apple Australia Owes $28.5 Million In Back Taxes
- Allegedly sheltering revenue
- Apple, Google and Amazon questioned
- Apple's total bill at AU$94.7 million
On what is believed to be the Government’s move to clamp down on foreign taxes, the Australian Tax Office has hit Apple with AU$28.5 million bill in terms of back taxes.
- Allegedly sheltering revenue
- Apple, Google and Amazon questioned
- Apple's total bill at AU$94.7 million
On what is believed to be the Government’s move to clamp down on foreign taxes, the Australian Tax Office has hit Apple with AU$28.5 million bill in terms of back taxes.
This brings up the amount Apple owes Australia to $94.7 million with taxes through September 24, 2011.
There is not much information yet on what is behind the huge tax bill since it is illegal for the ATO to reveal any details about these matters and cannot comment on individual cases.
However, reports say that the move is caused by ATO joining a tax push that is led by European governments by targeting companies which harbour funds via intermediary companies in foreign countries.
U.K. tax regulators have been questioning Apple, along with Google and Amazon, about possible tax avoidance issues.
Apple’s Australian arm is under the ownership of Apple Operations International, where this subsidiary is located in Cork, Ireland. There have been quite a number of companies capitalising on Ireland’s low corporate tax rate.
For Apple though, the $28.5 million bill may not be much since the company earned $4.87 billion in revenue from Australia alone last year.
