Apple reportedly paid no corporate taxes in the UK last year

Apple paid no corporate taxes in the UK last year, and a tax rate of just 2 percent on overseas profits, in a series of loopholes that lessen the companies international tax burden, according to a Financial Times report. Apple was able to pull this off by way of tax deductions from share awards to employees that offset the taxes owed, and the sheltering of money into offshoots in countries with lower-tax rates, such as the British Virgin Islands, the FT report said. Apple's actions are completel...