An investigation by the New Zealand Herald newspaper found electronics giant Apple has sold $2.96 billion (NZ$4.2 billion) worth of products since 2007 in the country but has not paid any local tax.
Company tax of $26 million had been reportedly paid to the Australian tax office as the two countries have a treaty where tax is only paid in one jurisdiction.
According to the newspaper, if Apple had “reported the same healthy profit margin in New Zealand as it did for its operations globally,” it would have paid $250.7 million in taxes.
Apple said the arrangement was legal, adding it is “the largest taxpayer in the world” which appreciates and respects the role “taxes play as necessary and important role in our society.”
“We follow the law and pay tax on everything we earn, wherever we operate. Apple aims to be a force for good, and we’re proud of…
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