TECHTechnology
Apple’s Singapore Hub Sheltered Up to $50 Billion in Profits
Apple attributed up to $50 billion in profits to its Singapore hub, making the city-state the company’s largest tax shelter, according to the Financial Times. The arrangement saved Apple $2.7 billion in taxes, slightly more than the $2.6 billion it saved through its Ireland headquarters.
The figures point to Singapore overtaking Ireland as the larger of the two tax-saving arrangements described in the report. Apple’s Singapore-attributed profits reached as much as $50 billion, while the tax savings there totaled $2.7 billion.
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