A Senate subcommittee has released a 40-page memo accusing Apple of not paying billions of dollars in federal taxes through "extensive tax-avoidance strategies". Apple CEO Tim Cook, CFO Peter Oppenheimer, and Apple's head of tax operations Phillip A. Bullock will appear in front of the U.S. Senate Permanent Subcommittee on Investigation tomorrow. The company issued a … [Read more...] about U.S. Senators Claim Apple Has Avoided Paying Billions in U.S. Income Taxes Ahead of Tim Cook Testimony
The Senate Permanent Subcommittee on Investigations has issued a statement today saying that Apple uses a complex web of offshore entities to avoid paying billions in taxes. The full statement (which can be read below) accuses Apple of multiple tax avoidance strategies including the creation of two offshore companies that are incorporated in Ireland but are not tax residents … [Read more...] about Senate Subcommittee: Apple Uses Offshore Entities to Avoid Billions in Taxes
Apple CEO Tim Cook is speaking to journalists before he testifies to a Senate subcommittee on Apple's offshore tax practices. Instead of sending a lower-level executive, Cook has decided to speak himself and offer Congress his ideas for comprehensive tax reform. He spoke to POLITICO in a rare interview. … [Read more...] about Tim Cook: 'Apple Does Not Funnel Its Domestic Profits Overseas'
Apple CEO Tim Cook will testify before a Senate subcommittee on Apple's offshore tax practices, reports Politico. Apple has been under fire for its tax practices. The company recently avoided paying as much as $9.2 billion in taxes by buying back stock with debt instead of offshore cash, Bloomberg reported. Apple has a reported $100 billion in offshore funds. … [Read more...] about Tim Cook to Testify Before Senate Subcommittee Investigating Tax Practices