Business · Companies · 5 hrs ago
Apple reportedly saved $2.7bn in taxes by booking profits in Singapore
Apple reportedly saved $2.7bn in taxes in 2026 by booking profits through Singapore, using tax incentives offered there.
The US technology company reportedly booked up to $50bn in profits through its Asian centre in the city-state.
It also saved $2.6bn in Ireland, where it has its European headquarters, according to figures cited by Handelsblatt.
The two locations together account for more than $5bn in reported tax savings.
Profit shifting means a multinational moves profits between its subsidiaries to countries where the tax burden is lower.
Singapore joined an OECD agreement setting a 15% minimum corporate tax rate for large multinationals, but companies there can negotiate incentives that reduce their effective rate.
Apple's effective tax rate in Singapore was about 10% from 2023 to 2025, according to figures cited by Handelsblatt.
Apple is required under new US accounting rules to disclose its Singapore tax arrangements, and no further action is specified.
Apple reportedly reduced its tax bill by $2.7 billion this year by booking profits through Singapore.
The report says Apple used tax incentives offered by the city-state.
Apple accounted for up to $50 billion in profits through its Asian hub in 2026, according to the report.
Apple also saved $2.6 billion in Ireland, bringing the reported tax savings in the two locations to more than $5 billion.
Singapore’s official corporate tax rate is 17 percent, but companies can negotiate incentives that lower their effective rate.
- Who
- Apple, the US technology company.
- What
- It reportedly saved $2.7 billion in taxes by booking profits through Singapore and using tax incentives.
- When
- In 2026, according to the report.
- Where
- Singapore.
- Why
- Singapore offers negotiated tax incentives that can reduce companies’ effective corporate tax rates.
This story does not have two clearly opposing sides.
A tax reform agreed by 136 OECD countries provided for a 15 percent minimum effective corporate tax rate for large multinational companies.
Singapore introduced OECD rules for business years beginning in 2025.
Apple reportedly booked up to $50 billion in profits through its Asian centre and saved $2.7 billion in taxes in Singapore.
- Reported Singapore tax savings
- $2.7 billion
- Reported profits booked through Asian centre in 2026
- Up to $50 billion
- Reported tax savings in Ireland
- $2.6 billion
- Singapore official corporate tax rate
- 17 percent
- Global minimum tax rate under 2021 reform
- 15 percent