Singapore Saved Apple $2.7 Billion in Taxes This Year
Apple paid more income tax in Ireland than in Singapore in fiscal 2026, but it saved more in Singapore. Apple's annual report shows that the company paid $4.96 billion in cash income taxes in Ireland and $3.25 billion in Singapore. Against the 21% U.S. federal corporate tax rate, Singapore lowered Apple's tax expense by $2.67 billion, about $100 million more than Ireland did. Singapore's lower…
Apple's fiscal 2026 annual report reveals that the company paid significantly less in taxes in Singapore compared to Ireland. While Apple paid $4.96 billion in cash income taxes to Ireland under the 21% U.S. federal corporate tax rate, it saved $2.67 billion by paying only $3.25 billion in Singapore. Prior to adjustments, Singapore's lower tax rate and incentives would have saved Apple an estimated $5.49 billion in taxes.
However, a $2.51 billion top-up tax reduced this saving by nearly half. Singapore introduced this higher top-up tax to align the effective tax rate for qualifying large multinationals with 15%. This is the first year Apple disclosed these country-specific tax figures under new U.S. accounting rules. Apple's Singapore subsidiaries reported nearly $40 billion in revenue in fiscal 2025, the same year Apple reported a combined figure for its foreign subsidiaries.
The Financial Times estimated that Apple booked up to $50 billion in pretax profit in Singapore in 2026, highlighting the company's ability to generate profits in multiple jurisdictions, even when customers are located elsewhere.
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