Apple saved $2.7 billion in taxes this year by routing as much as $50 billion in profits through Singapore, according to new company disclosures. The city-state is now the iPhone maker’s largest tax shelter, surpassing Ireland.
Apple saved $2.6 billion through its long-standing European headquarters in Ireland. Its Singapore tax savings were greater.
New U.S. accounting rules require companies to disclose when taxes on overseas profits differ significantly from the U.S. federal rate of 21%.
If Apple’s 2026 global profits had been taxed at that rate, its total tax bill would have been $33 billion. The company actually incurred a $27 billion bill.