Cook bashes talk Apple is dodging taxes
SAN FRANCISCO : Apple chief Tim Cook emphatically rejected accusations that the world’s richest company is sidestepping US taxes by keeping bundles of cash overseas, suggesting that the claim was politically motivated.
Cook staunch defense of the California-based technology colossus came during an interview with Charlie Rose in a 60 Minutes news program interview to be aired on Sunday on CBS.
Cook argued that Apple pays the biggest tax tab in the United States and that it keeps more money overseas than other company because two-thirds of its business is there.
“That’s total political crap, there is no truth behind it,” Cook responded when pressed about the highly contentious tax issue in a short preview of the interview.
“We pay every tax dollar we owe.” Cook laid the blame on an outdated US tax code, calling for it to be revamped for modern times.
“This is a tax code that was made for the Industrial Age, not the Digital Age,” Tim Cook said.
World leaders last month approved a crackdown on tax avoidance by multinationals such as Apple, Google and McDonald’s, major firms whose rock-bottom tax bills have provoked widespread outrage in the United States and beyond.