Apple CEO Tim Cook Testifies Before Congress About Offshore Tax Havens
Apple CEO Tim Cook is appearing before the Senate Permanent Subcommittee on Investigations today to answer charges that his company has avoided paying billions of dollars in taxes through the use of overseas tax shelters and loopholes in the corporate tax code. An investigation by the subcommittee found that Apple has shifted tens of billions of dollars of two subsidiaries in Ireland, while claiming that neither subsidiary is a tax resident of any country.
