Apple CEO rejects ‘tax evasion’ charges

Apple CEO rejects ‘tax evasion’ charges
May 23, 2013 Leaders Hub

The chief executive of Apple has defended his company’s tax practices over claims it is among the largest tax avoiders.

In a testimony before the US Senate on Tuesday, Tim Cook said that Apple paid nearly $6bn to the US treasury last year.

“We pay all the taxes we owe,” Cook said. “Every single dollar. We not only comply with the laws, but we comply with the spirit of the laws.”

A defiant Cook also rejected accusation that his company used “tax gimmicks” to avoid paying more in taxes.

“We don’t move intellectial property offshore and use it to sell our poducts back to the US to avoid taxes,” he said.

Read more: Aljazeera

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