Apple Tax Payments Under Scrutiny In UK

Apple Inc. (NASDAQ:AAPL) may be in trouble in the UK as the firm’s tax filings are evidence surfaced in the Daily Mail that the company had paid only £10 million in corporation tax in the country last year despite securing sales of around £6 billion in the same period. The news has come in the wake of a reported investigation by the UK’s revenue service into the tax practices of Amazon another internet giant. That company did not pay any corporation tax in the United Kingdom in 2010 or 2011 after moving its base of operations to Luxembourg. The accusation of…