New documents from Apple's Irish headquarters show that the company's European business generated $211.1 billion in revenue, but only $24.8 billion was remitted back to its U.S. parent company Apple is one of the largest companies in Ireland because it sends the revenue of its subsidiaries all over Europe. Traditionally, it has done so to benefit from Ireland's low tax rates, although that is now changing.
As I said before, due to the difference in tax rates, for Apple It is also advantageous to keep the money it earns from outside the United States abroad rather than remit it all back home. As a result, although revenue increased from $148.2 billion in 2020 to $211.1 billion in 2021, little of it was sent back to Apple's United States.
The accounts for the fiscal year ending September 25, 2021 show that Apple has prepared $11.6 billion in income tax bills. About $8.5 billion is classified as corporate tax, but there is no further breakdown of the amount paid in Ireland or the United States. Although revenue increased by more than 40%, the accounts show that its profit decreased from $70.3 billion in 2020 to $26 billion in 2021.
The accounts also show that the number of employees in Apple's subsidiaries reported to the Irish Division has increased from 51255 to 52563. More than 6000 of them work directly for Apple's Irish business, which recently added a new office at Hogan Wharf in cork.