Apple Spent $6 Billion On Corporate Income Taxes In 2012
Apple Inc. has paid $6 billion in federal corporate taxes for 2012. Apple said “In fiscal 2012 we paid $6 billion in federal corporate income taxes, which is 1 out of every 40 dollars in corporate income taxes collected by the U.S. government.”
This was Apple’s response to a New York Times article about how there is a congressional investigation taking place around Apple’s accounting practices along with a few other tech companies.
Last year we wrote an article about how Apple saves billions of dollars in taxes per year and Apple paid 1.9% income tax on $36.8 billion in 2012 earnings outside the U.S. Even Facebook kept $700 million in the Grand Caymans to avoid paying high taxes. The reason why Apple is particularly being spotted is because they are the most valuable company in the world.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry