Tim Cook and Peter Oppenheimer will testify today against accusations that Apple has funneled billions of dollars through overseas entities in order to avoid paying US taxes.
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Senate subcommittee grills Apple on tax avoidance, watch live

Tim Cook Rich

Today, Apple’s Tim Cook and Peter Oppenheimer are going in front of a Senate subcommittee to defend recent tax practices that appear slightly questionable in the eyes of the law. Long story short, Apple is accused of using overseas entities to avoid paying billions in US taxes. As you can imagine, the government isn’t all too happy with one of the biggest American earners using “gimmicks” to skirt their dues.

Apple, of course, says they are doing nothing wrong. In fact, their testimony points out that they are one of the largest corporate tax payers in the US. While that may be true, the Senate subcommittee contends that that does not mean they aren’t one of the largest tax avoiders in the US as well.

It’s happening now, and you can watch all the exciting twist and turns (read: boring old men droning about taxes) as they happen. It’s streaming live over at the Homeland Security and Government Affairs Permanent Subcommittee on Investigations site.

 

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  • Renkman

    Gimmicks? Have they done anything illegal? When we all file our taxes every year, what is our main goal? To avoid paying as much in taxes as we can. Why should Apple be any different? Because they are hugely profitable and can afford to pay more in taxes, so they should just bite the bullet and do so? That’s just silly.