Apple reports US$3.25 billion Singapore income tax payment for FY2026
A US$2.51 billion top-up tax expense partly offset the benefits Apple received from Singapore’s tax rates and incentives.
Apple’s annual report disclosed a Singapore income tax payment of US$3.25 billion for its financial year ending 26 September 2026. Singapore represented about 9.4 per cent of the company’s US$34.59 billion in cash income taxes paid worldwide.
The company reported that Singapore’s rates and tax incentives lowered its tax expense by US$5.49 billion relative to the 21 per cent US federal statutory rate. A separate US$2.51 billion expense for Singapore’s global minimum tax partly offset that benefit.
After accounting for the top-up tax and US$311 million in other Singapore tax adjustments, Apple’s net tax benefit attributable to Singapore was about US$2.67 billion against the US benchmark. The company did not specify its Singapore effective tax rate.
Singapore announced the minimum tax in Budget 2024, covering financial years starting from 1 January 2025. Under the international framework, large multinationals operating in Singapore must pay an effective rate of at least 15 per cent. Singapore’s standard corporate rate is 17 per cent, but exemptions and incentives can bring effective rates lower.
Apple’s 2025 annual report did not identify Singapore cash tax payments or local tax benefits separately, preventing a year-on-year comparison. Worldwide, its cash income tax payments declined from US$43.37 billion in FY2025.
The company also reported FY2026 net profit of US$132.18 billion, up 18 per cent, while revenue increased 15 per cent to US$478.83 billion.
