Today's Hard|Forum Post
Today's Hard|Forum Post

Friday December 18, 2015

Tim Cook On Apple Avoiding U.S. Taxes: 'Total Political Crap'

It looks like Tim Cook got a little testy when he was asked about Apple holding $181.1 billion in profits offshore. Honestly, I'd be testy too if I had to pay almost $60 billion just to bring the money back to the United States.

Apple Inc Chief Executive Tim Cook dismissed as "total political crap" the notion that the tech giant was avoiding taxes. Apple saves billions of dollars in taxes through subsidiaries in Ireland, where it declares much of its overseas profit. The company holds $181.1 billion in offshore profits, more than any other U.S. company, and would owe an estimated $59.2 billion in taxes if it tried to bring the money back to the United States, a recent study based on SEC filings showed.