Apple Australia’s net profits drop to AU$119 million after tax

Apple Australia has revealed that it has paid 97% of its 2016 profit in tax to the Australian government.

During the 2016 financial year, profit before the tax comes in at AU$132 million and with AU$128 million paid in tax, the iPhone maker was left with AU$3.7 million in net profit, as compared to the AU$123 million in 2015.

The Cupertino giant said in its financial report lodged with the Australian Securities and Investments Commission (ASIC) that the amount of tax paid was in line with...

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