Tim Cook Calls Apple’s Tax Avoidance Accusations ‘Total Political Crap’

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.

Cook described the tax avoidance accusations as „total political crap,“ and deflected blame on the U.S. tax code for being far outdated. He added that repatriating the money in the U.S. is not „a reasonable thing to do“ due to high corporate tax rates.

Rose: You also have more money overseas probably than any other American company. […] Why don’t you bring that home?

Cook: “It would cost me 40% to bring it home, and I don’t think that’s a reasonable thing to do. This is a tax code that was made for the industrial age, not the digital age. It’s backwards. It’s awful for America. It should have been fixed many years ago. It’s past time to get it done.”

Rose: Here’s what they concluded: “Apple is engaged in a sophisticated scheme to pay little or no corporate taxes on $74 billion in revenue held overseas.”

Cook: “That is total political crap. There is no truth behind it. Apple pays every tax dollar we owe.“

Apple’s tax policies have been closely investigated over the past few years in Europe. 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 investigation was completed in March 2015.

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. The commission has since requested more information from Apple, likely delaying a decision in the tax probe until at least after the Irish elections in early 2016.

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. Apple has consistently denied any wrongdoing, and Ireland vows to take the European Commission to court over any negative ruling.

Cook’s wide-ranging interview will also touch upon encryption technology and manufacturing products in China. In the same episode, Rose will also offer a rare inside look at Jony Ive’s „secret design studio“ at Apple’s headquarters in Cupertino, California. 60 Minutes airs on CBS this Sunday, December 20 at 7:30 p.m. Eastern Time and 7 p.m. Pacific Time.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Tags: Tim Cook, CBS, corporate tax, Charlie Rose, 60 Minutes
Discuss this article in our forums

Прочетете повече

Siri and App Store will make Apple TV a game-changer

A new Apple TV set-top box is set to arrive this summer at Apple’s World Wide Developers Conference (WWDC), according to a report, citing sources familiar with the situation. Sources claim the upgrade will represent a much-needed “significant overhaul” of…Read more ›



Прочетете повече

Apple to Debut New A8-Based Apple TV Box With App Store and Siri at WWDC

Apple plans to announce its next-generation Apple TV set-top box at its annual Worldwide Developers Conference in June, according to BuzzFeed News. The report, citing sources familiar with the plans, claims that the new Apple TV will be a „significant overhaul“ of the streaming TV box, featuring both Siri and an App Store with an SDK available for developers to create apps.

The new Apple TV will feature Apple’s latest A8 system-on-a-chip and a „dramatic increase“ in internal storage, well beyond the 8GB included in the current third-generation set-top box. The addition of Siri will enable Apple TV owners to control a wide selection of HomeKit-enabled home automation devices through the set-top box, according to the report.




Прочетете повече

Apple Honors Dr. Martin Luther King Jr. on Its Home Page

Apple today updated its website to celebrate Martin Luther King, Jr. Day with a full page memorial on the company’s home page. The image on the site is accompanied by a message to honor the civil rights leader and his work, “Today we reflect on the life and vision of Dr. Martin Luther King Jr. and the work that continues in service of the broader concerns of humanity.”

Following the rollout of the website change, Apple CEO Tim Cook tweeted his own commemoration that highlighted Apple’s remembrance of King’s legacy.

Previously, Tim Cook has publicly expressed his admiration for Dr. King, noting in a Charlie Rose interview last year that he keeps photos of King and politician Robert Kennedy in his office at Apple.

„I had the — just tremendous respect for both of them, and so I do,“ he said. „I look at them every day because I think for people — there’s still too many cases in the world and in the United States where there’s a class kind of structure or where voting or people are trying to convince each other that this other group of people don’t deserve the same rights. And I think it’s crazy, I think it’s un-American.“

Besides the web page refresh, Apple reportedly also is encouraging its employees to volunteer with a donation matching program, reports 9to5Mac. Instead of a paid day off, Apple is offering to donate an additional $50 for each voluntary hour worked by employees.




Прочетете повече

Tim Cook Asks Apple Employees to Remember Steve Jobs on Third Anniversary of His Death

Ahead of the third anniversary of Steve Jobs’ passing, Apple CEO Tim Cook has sent a memo to Apple employees (via iClarified), asking them to take some time to remember the „many ways Steve made our world better.“

Team,

Sunday will mark the third anniversary of Steve’s passing. I’m sure that many of you will be thinking of him on that day, as I know I will.

I hope you’ll take a moment to appreciate the many ways Steve made our world better. Children learn in new ways thanks to the products he dreamed up. The most creative people on earth use them to compose symphonies and pop songs, and write everything from novels to poetry to text messages. Steve’s life’s work produced the canvas on which artists now create masterpieces.

Steve’s vision extended far beyond the years he was alive, and the values on which he built Apple will always be with us. Many of the ideas and projects we’re working on today got started after he died, but his influence on them – and on all of us – is unmistakeable.

Enjoy your weekend, and thanks for helping carry Steve’s legacy into the future.

Tim

Though Steve Jobs passed away three years ago on October 5, 2011, the former Apple CEO has continued to have a major impact on the company. His fourth floor office has remained untouched since his death, and Apple CEO Tim Cook has taken several opportunities during recent interviews to emphasize Jobs’ influence on the company’s direction and on the development of new products.

„His spirit will always be the foundation of the company,“ Cook said in an interview with Charlie Rose, where he said that Steve will always be in his heart. „He is deep in Apple’s DNA.“




Прочетете повече

Both Parts of Tim Cook’s Interview with Charlie Rose Available Online [Mac Blog]

The second half of Tim Cook’s extensive interview with Charlie Rose has been released online, which means that both parts are now viewable for those who haven’t seen it. Both interviews are available on Hulu and Charlie Rose’s website (via Daring Fireball). However, Hulu limits the interviews to those in the United States.

The first half of the interview, has Cook speaking about Steve Jobs, the acquisition of Beats as well as Apple’s interest in television alongside some thoughts on management from the Apple CEO. The second half of the interview, has Cook talking about privacy and how the Cupertino company does not try to collect data on its users.

The second interview, below, also features a segment with notable designer Yves Behar, who has designed numerous iPhone-connected products like the Jawbone and Vessyl Smart Cup.

Those who cannot watch the interview on Hulu can watch both parts on Charlie Rose’s website.




Прочетете повече

33 million people ‘experience’ U2′s free album in a week

Apple had to give users a tool to permanently remove U2′s freebie album from their iTunes account, but according to Eddie Cue the album is a colossal hit and has been ‘experienced’ by 33 million iTunes account holders since its…Read more ›



Прочетете повече