It has been revealed that Apple paid only £12.9 million ($17 million) in tax last year in the UK. As noted by the Mail Online, this is equivalent to just two hours of earnings for the company. In total, Apple reported profits of £12.9 billion ($17 billion) for the last three months of 2015 worldwide, making its UK tax payment appear a little on the small side.
Interestingly, the tax bill for 2015 rose just 9% for Apple from £11.8 million back in 2014. The European Union is still looking into Apple's tax arrangements with its HQ located in Ireland. Other tech giants like Facebook and Google have been in the spotlight, and have pledged to contibute more when it comes to UK corporation tax. From the Mail Online report:
"Separate filings show Apple raked in £37.5 billion of profits worldwide in the 12 months to September 2015, and accountants estimate that the UK accounted for around £2 billion of those. This would have resulted in a UK corporation tax bill of around £400 million – but Apple in fact paid just £11.8 million of tax in Britain last year."
Apple commented, stating the company pays "all that we owe according to the law. We have a long history in the UK and are proud of the significant contributions we've made over the past 36 years."