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Apple's Irish subsidiary rakes in $69.3 billion profit from global operations

Earnings from Apple's European subsidiary, and main European Union headquarters in Cork, Ireland, have risen $11.69 billion year over year.

Apple has a substantial presence in Ireland, which it has been expanding with new hires and new product testing facilities, but it's also the official base for all of the firm's non-US work. So Apple Operations International is headquartered on Apple's Holyhill campus in Cork, but the profits include those of all other countries outside the States.

According to The Irish Times, directors of the Cork subsidiary report that a majority of the group's net sales are from outside Ireland.

Overall, for the financial year ending September 24, 2022, Apple Operations International reportedly saw daily pretax profits of $189.87 million per day. That's a 2% rise on the year ending September 2021, and sales were 5.5% higher than that period, at $222.75 billion.

Across its global operations, Apple paid corporation tax of $7.69 billion, which is a 73% increase on the $4.44 billion paid the previous year. The accounts do not specify, however, how much corporate tax was paid in Ireland itself.

Apple's accounts, filed with Ireland's Companies House, do state that the regular 12.5% corporate tax charge would have meant $8.66 billion in corporation taxes. However, Apple continues to be embroiled in a long-running legal case regarding the tax rates it was offered by Ireland's government.

The accounts do also note that the final figures may vary because Apple is considering asking the Irish Minister for Finance "to reduce the recovery amount for certain taxes paid to other countries."

Apple Operations International reported that it employs 56,639 people across its subsidiaries. Some 6,000 of those are based in Ireland, which together with its international funds, previously meant the Irish Times called it the country's biggest company.