It’s said that the top 5% of the population pay 95% tax, however as more reports are coming out worldwide about multi-billion dollar companies avoiding it, is this really the case or could we see a change in morals?
We saw that back In November 2012, Apple was reported to be only paying 1.9% tax outside of the US.
According to the BBC,
”The Company paid $713m (£445m) in the year to 29 September on foreign pre-tax profits of $36.8bn. These figures are absolutely staggering. That an organisation, especially of Apple’s stature can get away with this.”>
Apple isn’t the first company be identified as paying low rates of overseas tax, following Starbucks, Facebook and Google all throughout the end of 2012.
Most recently Juliette Garside reported on Amazon, who are set to announce a cash pile of $9b (£5.7b) have been under scrutiny as another industry giant that are part-taking in tax avoidance, particularly in Europe.>