Apple paid just 3.7% tax on its non-U.S. income last year — and the European Commission isn’t happy about it.
Registering its overseas business in Ireland, Apple is one of three companies being investigated for abusive transfer pricing and other forms of corporate profit shifting, with the other two being Starbucks and Fiat Finance and Trade.
The subject of corporate tax avoidance has become an increasingly hot-button issue in recent years, as the result of probes into international businesses like Apple and Google, which use convoluted structures as a means of slashing their tax bills.