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Apple Circumvents U.S. Tax Code, Feds Claim

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In advance of Apple CEO Tim Cook's testimony later today, in Washington, on the way Apple avoids paying U.S. taxes on money it earns overseas, both Apple and congressional investigators tried to get in a preemptive kidney-punch or two. Monday night Apple released an advance copy of Cook's testimony. Its 17 pages of self-defense are clear, blunt, unambiguous: Apple, Cook declares, "does not use tax gimmicks." It pays "an extraordinary amount" in U.S. taxes—nearly $6 billion last year, making it "likely the largest corporate income tax payer in the U.S." Its' effective tax rate last year, he says, was approximately 30.5 percent.
image  Apple Circumvents U.S. Tax Code, Feds Claim  Apple Circumvents U.S. Tax Code, Feds Claim  Apple Circumvents U.S. Tax Code, Feds Claim  Apple Circumvents U.S. Tax Code, Feds Claim

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