Apple has made Singapore its main hub for attributing foreign profits, edging out Ireland.
According to its Form 10-K for the year ended September 26, 2026, Singapore’s tax incentives trimmed the calculation of Apple’s theoretical corporate tax by $5.49 billion. After accounting for Singapore’s supplementary tax and other adjustments, the net effect comes to about $2.67 billion.
This figure does not imply that Apple has illegally avoided $2.7 billion in taxes, but rather reflects a tax advantage obtained by attributing profits to Singapore, where the company benefits from incentives and a tax rate lower than the U.S. federal corporate rate of 21%.
Singapore Surpasses Ireland
Singapore now outpaces Ireland as Apple’s primary source of net tax savings. Ireland provides about $2.57 billion in net savings, compared with roughly $2.67 billion for Singapore.
Since 1981, Apple has employed more than 3,600 people who manage, in particular, the flow of finished goods and components between manufacturers, mainly located in China, and the region’s distribution centers or resellers.
