More light is shed on Apple's labyrinthine tax affairs.
ADVERTISEMENTMore flak for electronics giant Apple with news it has not paid any tax in New Zealand for at least a decade.
In fact under a bilateral tax agreement Apple did pay 34 million NZ dollars of tax on sales for the last decade of 4.2 billion dollars, but to the Australian office which handles New Zealand business.
What continues to annoy local politicians is the amont of money Apple declares as profit in its Irish head office, and not just from New Zealand but operations around the world.
Irish corporation tax is among the lowest in the world but the EU has just called foul on the practise, and has hit Apple with a staggering 13 billion euro back tax bill.
Australia is about to pass a Diverted Profits bill modelled on the British law designed to crack down on tax avoidance.
Apple’s revenues are currently running at nearly 80 billion a quarter, easily matching a host of small and medium-sized nations.
