Apple set for showdown on Capitol Hill over corporate taxes
Apple CEO Tim Cook is set to testify on Capitol Hill Tuesday.
May 20th, 2013
07:38 PM ET
2 years ago

Apple set for showdown on Capitol Hill over corporate taxes

New York (CNNMoney) - Apple executives are set to defend the company's tax practices and call for corporate tax reform on Capitol Hill Tuesday amid harsh criticism following a Senate investigation.

A report released Monday by Senators John McCain, R-Arizona, and Carl Levin, D-Michigan, charged that Apple "has used a complex web of offshore entities - including three foreign subsidiaries the company claims are not tax resident in any nation - to avoid paying billions of dollars in U.S. income taxes."

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Filed under: Congress
soundoff (14 Responses)
  1. Anthony in California

    Wish McCain had this same criticism about Romney's off-shore tax-evading.

    May 20, 2013 08:40 pm at 8:40 pm |
  2. Zerubbabel

    Take food out of starving babies mouths. Allow those babies to die, due to a lack of adequate health care and housing. But lets provide billions of dollars in corporate welfare to multibillion dollar corporations that gross hundreds of millions of dollars in annual profits. What a Christian nation are we!!!

    May 20, 2013 09:09 pm at 9:09 pm |
  3. Thomas

    Apple is not alone !

    May 20, 2013 10:13 pm at 10:13 pm |
  4. S.B. Stein

    I don't mind lowering their taxes if they bring the jobs back to this country that they shipped overseas. We need more things made here.

    May 20, 2013 10:34 pm at 10:34 pm |
  5. Rick McDaniel

    Global companies are able to do that. If Congress doesn't like it, they can figure out how to prevent it. I haven't heard them criticize any OTHER company........why is THAT?????

    May 20, 2013 11:18 pm at 11:18 pm |
  6. hender1123

    Apple will just have to pay the price for making a profit. If they never need a bailout they're out of reach.

    May 21, 2013 01:08 am at 1:08 am |
  7. California

    Don't forget GE while you're at it.

    May 21, 2013 02:25 am at 2:25 am |
  8. buongiorno

    and this occured exactly when and how no mention of the wife

    May 21, 2013 03:53 am at 3:53 am |
  9. cynprice

    Wow, Apple doesn't want to pay U.S.A. Taxes, Wants to Pay Chinese Workers 28 cents an hour. What happened to Corporations benefitting someone. Looks like Apple only wants to benefit itself. Oh...maybe that benefits only the ....Wall Street investors...the Evil of all Evils... Apple is really Evil like Monsanto

    May 21, 2013 04:08 am at 4:08 am |
  10. Donkey Party

    And the GOP wants to give the "job creators" MORE tax breaks.

    May 21, 2013 05:15 am at 5:15 am |
  11. Gurgyl

    Redo the entire tax-code. Watch attorneys too for unethical practices–nab.

    May 21, 2013 06:15 am at 6:15 am |
  12. Name Uche Agonsi

    Let there be all tax war in US......the rich doesn't like paying tax, Corporate bodies device all tricks to avoid payments, the politicians are even battling to close down irs. Everyone wants to prey on the poor......is a no hold bar situation. God help America.

    May 21, 2013 06:50 am at 6:50 am |
  13. Name lynn

    That right apple you want to know did the irs cheat you out of your money. The peple cant believe the irs went so wrong.

    May 21, 2013 07:04 am at 7:04 am |
  14. g

    capitalist they love their freedom and the military power behind it ,they just want somebody else to pay for it

    May 21, 2013 07:53 am at 7:53 am |