Apple discloses Europe profits and taxes
Apple has announced for the first time the details of its profits and taxes paid in European Union countries. The company recorded a one-time tax payment of $17.1 billion in Ireland, following the release of frozen funds after losing a legal battle with the European Commission. Data also showed that its revenue in Germany reached $2.72 billion, with a pre-tax profit of $209 million and corporate income taxes totaling $153.5 million. These disclosures are part of European transparency regulations, which require companies with revenues exceeding €750 million to publicly report their tax data.
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