Apple CEO Tim Cook is set to testify on Capitol Hill Tuesday.
May 20th, 2013
07:38 PM ET
7 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."
FULL STORY
From CNN Politics
- NY prosecutors say Trump investigation extends beyond hush money payments August 3, 2020 06:04 pm
- Trump continues to lose ground in 2020 election as nation grapples with coronavirus August 3, 2020 06:01 pm
- Fact-check: In repealing Obama-era rule, Trump makes false claims about low-income housing, crime and the suburbs August 3, 2020 06:11 pm
- Trump criticizes Birx for the first time after she issues coronavirus warnings August 3, 2020 03:25 pm
- Analysis: No signs Trump has pandemic plan despite chilling warnings from administration's top doctors August 3, 2020 02:12 pm
- Another fake Pelosi video goes viral on Facebook August 3, 2020 11:56 am
Wish McCain had this same criticism about Romney's off-shore tax-evading.
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!!!
Apple is not alone !
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.
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?????
Apple will just have to pay the price for making a profit. If they never need a bailout they're out of reach.
Don't forget GE while you're at it.
and this occured exactly when and how no mention of the wife
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
And the GOP wants to give the "job creators" MORE tax breaks.
Redo the entire tax-code. Watch attorneys too for unethical practices–nab.
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.
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.
capitalist they love their freedom and the military power behind it ,they just want somebody else to pay for it