Apple's overseas tax rate less than 2%

Apple paid less than 2% tax on its overseas profits, documents revealed today, after the iPad and iPhone giant slashed the amount foreign taxmen receive.

Apple paid 713 million US dollars (€555m) in corporation tax outside the US in the year to September 29, despite its foreign pre-tax earnings surging more than 50% to 36.8 billion US dollars (€28bn), papers filed with US regulators revealed.