Apple Ireland subsidiary to pay Apple US $24.8 billion in 2021

New documents from Apple’s Irish headquarters show that the company’s European business revenue was $211.1 billion, of which $24.8 billion was paid to its U.S. parent company.

Apple is considered one of Ireland's largest companies, and it derives revenue from the company's European subsidiaries. Traditionally, this has been done to benefit from Ireland's low tax rates, although this is now changing.

Apple keeps the money it earns outside the U.S. overseas instead of sending it all back to the U.S. So while revenue grew 42.4% from $148.2 billion in 2020 to $211.1 billion in 2021, very little of that went back to Apple in the US.

According to the Irish Examiner, the Irish subsidiary paid $24.8 billion to its U.S. parent company during the same period.

Apple has provided an income tax bill of $11.6 billion in its accounts for the fiscal year ended September 25, 2021. About $8.5 billion of that was listed as corporate tax, but the filing did not break down further how much was paid in Ireland or the United States.

Despite a more than 40% increase in revenue, the accounts show profits falling from $70.3 billion in 2020 to $26 billion in 2021.

The accounts also show that the number of employees reported to the Irish division by the Apple subsidiary has increased from 51,255 to 52,563. More than 6,000 of them work directly for Apple's Irish business unit, which recently opened a new office in Horgan's Quay, Ireland.

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