Cork-registered Apple Operations International is a holding company for many of Apple’s non-US subsidiaries.
Apple recorded a modest 2pc increase in pre-tax profits last year at its main Irish subsidiary, Apple Operations International.
The tech giant’s Apple Operations International division pulled in pre-tax profits of $69.3bn last year, surpassing the $67.7bn recorded in 2021.
Apple Operations International’s total income last year was $222.8bn, according to company filings seen by Bloomberg.
Apple Operations International is registered at Apple’s campus in Hollyhill in Co Cork. It is a holding company for many of Apple’s non-US subsidiaries.
Sales outside Ireland represent a majority of the group’s net sales, the Irish Times reported.
It also reported that according to accounts that the company lodged recently with the Companies Office, Apple paid corporation tax of $7.78bn. When deferred tax was added, the tax bill amount increased to $11.08bn.
The accounts do not disclose the exact amount of corporate tax that was paid in Ireland last year, however.
The accounts did indicate that if a 12.5pc corporate tax charge was applied, it would have resulted in corporation taxes of $8.66bn.
Apple’s corporate taxes have been a contentious issue in Ireland for years. The company does well out of Ireland’s favourable corporate tax rates. It celebrated its fortieth year in Ireland in 2020.
That same year, Ireland and Apple were embroiled in a legal battle with the European Commission, which was pushing for the company to pay its fair share of corporation tax.
After the General Court of the EU ruled that Apple did not have to pay Ireland €14.2bn in alleged unpaid taxes, the European Commission said it was appealing this verdict.
In the past, Apple has been a high-profile employer of thousands of Irish people, but in recent months it has – like many other tech companies – announced job cuts.
10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.