In 2021, Apple’s largest Irish subsidiary profited $26 billion

In 2021, Apple's largest Irish subsidiary profited $26 billion

Tech Highlights:

  • $8.5 billion of that total was corporation tax. The accounts don’t break out how much of that tax was paid in Ireland and how much in the US. Apple Operations International Limited has its registered address at the company’s European headquarters at the Holyhill Industrial Estate in Cork. It acts as a holding company for the management of much of Apple’s operations outside the US and its accounts record activities around the development, manufacture and marketing of the businesses devices and services.

  • The largest Irish company of US technology behemoth Apple earned $26 billion this year, down from $70 billion in 2020. During the fiscal year, Apple Operations International Limited (AOIL) paid a dividend of around $25 billion to its parent company, Apple Inc, with the dividends subject to US tax. According to freshly filed financial statements, the corporation and its subsidiaries made an income tax provision of $11.6 billion, up from $6.2 billion the prior year.

The accounts show that AOIL recorded net sales in 2021 of $211.1, up 42% on the previous year. $178 billion of that was spent on products, while $32 billion of the sales were for services. Cost of sales rose from $90 billion in 2020 to $122 billion in 2021. Research and development costs fell to $12.5 billion from $15.5 billion in 2020. Its gross margin was 42.4%, up slightly on the previous year. Total employment across Apple Operations International Limited and its subsidiaries came to 52,563 full-time equivalents, up from 51,255 in 2020. Remuneration for the period totalled $5.8 billion, up from $4.8 billion a year earlier Apple currently employs around 6,000 people across a wide variety of operations in Ireland.

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