When I wrote my  Financial Review piece on how $A8.9 billion of Apple’s Australian sales revenue from 2002-2013 ended up as profit with Apple Sales International, I hadn’t noticed that Apple pays more tax in Australia than it pays in Ireland.

In Ireland, from 2002 to 2011, Apple Sales International reported $US 45.6 billion profit, on which it paid $US63.2 million tax. Over the decade the tax rate didn’t just drop. It broke the sound barrier on the way down. These are ASI’s year by year earnings over the decade: Continue reading →