Apple Registers UK Turnover of £1.37 Billion, £6.2 Million Tax Payment

LONDON – Apple released its latest accounts in the UK on Thursday. They showed that the company generated sales of £ 1.37 billion ($ 1.72 billion) during the year ending September 28, 2019.

The flagship British Apple Store in Regent Street in London

Apple Retail UK reports pre-tax profit of £ 39 million

The company registered in the country is called Apple Retail UK. The documents revealed that the company’s turnover had increased by 15% compared to the same period last year. Gross profit was £ 337 million ($ 424 million). After accounting for expenses and other costs, profit before tax was £ 39 million. Apple Retail UK had a total tax charge of £ 6.2 million ($ 7.8 million). the the documents, compiled by EY auditors, note:

The Company reviews its position on the use of deferred tax assets on an annual basis. Currently, the Company expects £ 6,522,000 of the closing deferred tax asset to be reversed during the next financial period.

Controversy over tax payments

There will undoubtedly be some controversy at seemingly low levels in the event of fiscal responsibility. In one declaration to i newspaper, Apple said:

As the world’s largest taxpayer, we know the important role that tax payments play in society and always pay whatever we owe. We are very proud of our many contributions across the UK and have spent over £ 2 billion last year with hundreds of suppliers. Our investment and innovation supports over 325,000 jobs in the UK and, in addition to our tax contributions, we also believe it is important to do more for people and society. We have focused our attention on supporting the Covid-19 response, making significant financial contributions and donating masks and shields here in the UK.

Elsewhere, documents show that the company paid a £ 25 million dividend to Apple Retail Europe, based in Ireland, and that 5,012 people were employed by the company on average each month, which has 38 retail stores in the UK. United.

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