A new Financial Times report reveals how Apple saved billions in taxes in 2026 by shifting profits through Singapore and Ireland. Singapore has overtaken Ireland as Apple’s biggest source of tax savings, according to the company’s annual Form 10-K filed with the SEC. The report highlights that Apple saved $2.7 billion in taxes through Singapore and $2.6 billion through Ireland in 2026, totaling approximately $5 billion in tax reductions.
This comes amid global efforts to curb profit shifting, including a 15% minimum corporate tax rate adopted by over 130 countries under OECD coordination. Ireland and Singapore implemented these rules in 2024 and 2025, respectively. Apple’s effective tax rate in Singapore was around 10% between 2023 and 2025 but is expected to rise toward 15% under the new framework.
The company’s total global tax bill would have been $33 billion if all profits were taxed at the US federal rate of 21%, but it paid $27 billion in corporation taxes. The shift reflects ongoing adjustments to international tax reforms aimed at ensuring multinational companies pay fair shares.
Source: 9to5Mac · Summarized by HeadlinesBriefing