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Apple shares executives' opening statements from US Senate testimony

updated 06:12 pm EDT, Tue May 21, 2013

Documents Apple's defense against accusations of tax dodging

Apple has posted the opening statements two of its executives -- CEO Tim Cook (PDF) -- and CFO Peter Oppenheimer (PDF) -- made during their testimony in front of the US Senate earlier today. The documents don't reveal anything new, but do constitute a record of Apple's stance during the Senate hearing. "We pay all of the taxes we owe -- every single dollar. We not only comply with the laws, but we comply with the spirit of the laws," Cook's statement reads.

Apple is accused of setting up "ghost" corporations in Ireland to avoid paying US taxes. The subsidiaries are cost-sharing arrangements, which Apple insists help to fund research and development, and ultimately create new jobs in the US. Politicians have complained that even though such kinds of arrangements are legal, they can deprive the US government and public of badly-needed tax revenue.




by MacNN Staff

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