Singapore represented 9.4% of Apple’s $34.59 billion in worldwide cash income-tax payments for FY2026, as a 15% minimum-tax regime covered large multinational companies operating there, The Straits Times reported.
Apple paid $3.25 billion to Singapore, The Straits Times said, citing the company’s annual report for the year ended Sept. 26. The Straits Times reported Apple’s tax expense was about $5.49 billion lower under Singapore’s rates and incentives than it would have been at the 21% U.S. federal statutory rate.
That reduction concerns tax expense, a separate measure from cash taxes paid. After the Singapore-related top-up charge and other adjustments, the tax-expense reduction against the U.S. benchmark was about $2.67 billion, according to The Straits Times. The calculation included a $2.51 billion top-up tax expense and $311 million in other Singapore adjustments.
Singapore’s standard corporate income-tax rate is 17%, though incentives and exemptions can lower a company’s effective rate. A policy announced in Singapore’s 2024 budget set a 15% minimum effective rate for large multinationals there for fiscal years starting Jan. 1, 2025, or later. A top-up tax applies when a company’s effective rate under the rules falls below that threshold, The Straits Times reported. Apple did not disclose its Singapore-specific effective tax rate, the newspaper said.
Apple’s global results also grew in FY2026: net income rose 18% to $132.18 billion as revenue increased 15% to $478.83 billion. iPhone revenue advanced 21% to $254.1 billion, while Services revenue grew 13% to $123.3 billion, The Straits Times reported. Greater China revenue rebounded 28% in FY2026 after a 4% decline in FY2025; Apple pointed to iPhone and Mac sales and a firmer renminbi as contributors. The company said rising input prices, memory among them, eroded some of the gains. Research and development spending rose 32% to $45.77 billion, mainly reflecting infrastructure costs, including AI investment, and staff expenses, the report said.
