Apple pays only 1.9% on overseas profit for 2012
Apple has paid only 1.9% tax on its overseas profits during 2012, according "ZDNet" (http://macte.ch/OQbkD), quoting info from the Cupertino, California's latest 10-K filing with the U.S. Securities and Exchange Commission (SEC).
On non-U.S. profits of US$36.87 billion for the 2012 fiscal year ending September, Apple paid only $713 million in overseas tax. That's "only a fraction of what the company paid compared to corporation tax of 25% in the U.K., and around 35 percent in the United States," notes "ZDNet."
In the U.S. Apple paid $12.3 billion in federal taxes on profit generated in the U.S., and just under $1.1 billion in state taxes. Apple -- like other companies such as Starbucks, Amazon and Google -- often leave their profit-generated cash overseas because the repatriation costs would result in 35% taxes applied once the money is brought back to the U.S.