How Apple’s earnings were impacted by the tax issue
Apple is facing new scrutiny over its tax payments, with the U.S. Department of Treasury reporting that Apple earned $1.2 billion on earnings in 2018, a far bigger chunk of its profits than the $1 billion Apple reported on its U.K. tax returns.
Apple also made $1,542 million in tax payments in 2017, a big chunk of Apple’s overall U.k. tax bill.
The Treasury also reported that Apple paid $1 million in U.N. payments to the United Nations in 2018.
The $1 trillion figure has become a rallying cry for Apple, which is facing criticism from Democrats and President Donald Trump for using billions of dollars from foreign tax shelters to pay U.s. taxes.
Apple has said it’s using $1 of each $2 of its overseas profits to pay taxes in the U