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Apple: Shady Irish Outposts Have Nothing To Do With Avoiding Taxes
- 05/21/2013 06:59 PM EDT Sci/Tech
Apple CEO Tim Cook vehemently defended his company against allegations of tax evasion in front of a Senate committee today. He said:
"We pay all the taxes we owe — every single dollar. We not only comply with the laws but we comply with the spirit of the laws," he said. "We don't depend on tax gimmicks."
Cook was on Capitol Hill to testify in front of the Senate Permanent Subcommittee on Investigations. The hearing is investigating whether Apple used Irish subisdiaries to hide and avoid paying taxes on billions of dollars in profit.
Apple likes to point out that it's the largest coporate tax payer in the US, paying something like $6 billion each year. Its opponents point out that it stands accused of dodging another $9 billion.