Tim Cook Calls Apple's Tax Avoidance Accusations 'Total Political Crap'
- 8 years ago
60 Minutes has shared a preview of Tim Cook's latest interview with journalist Charlie Rose, in which the Apple CEO emphatically counters the idea that Apple has created elaborate schemes to pay little or no U.S. corporate taxes on its overseas revenue.
Earlier this year, for example, Italian regulators accused Apple of booking profits generated in the country through an Irish subsidiary in an effort to lower its taxable income base and save nearly 900 million euros from 2008 through 2013.
The European Commission began an investigation of Apple's tax policies in June 2014, and the Brussels-based executive body formally accused the company of receiving illegal state aid from Ireland in September 2014.
Apple is said to utilize multiple foreign subsidiaries in Ireland to move around overseas money, which Cook says accounts for two-thirds of Apple's revenue, without being subject to high corporate tax rates in the U.S. and elsewhere.
Earlier this year, for example, Italian regulators accused Apple of booking profits generated in the country through an Irish subsidiary in an effort to lower its taxable income base and save nearly 900 million euros from 2008 through 2013.
The European Commission began an investigation of Apple's tax policies in June 2014, and the Brussels-based executive body formally accused the company of receiving illegal state aid from Ireland in September 2014.
Apple is said to utilize multiple foreign subsidiaries in Ireland to move around overseas money, which Cook says accounts for two-thirds of Apple's revenue, without being subject to high corporate tax rates in the U.S. and elsewhere.