Apple Profits, the Double Irish and Double Standards in UK Tax

How little UK tax is paid by US technology companies was in the news again this week when Apple, the US technology giant, posted the biggest corporate profits in global history. It made $18bn profits in the last quarter. Although it has sales all over the world about 60% of profits are managed through companies in Ireland using the Double Irish special tax regime. All perfectly legal. Apple are only using the tax rules in place. The problem for HMRC is a public perception of a double standard in tax. Any small or medium sized UK business which tried to do the same would likely be hit very hard. As long as the UK Parliament fails to act to make the system fair and equal for all then there will be frustration at perceived double standards

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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