Apple CEO Tim Cook and CFO Peter Oppenheimer Testify In Front of Senate Committee on Tax Strategies [Live]After jostling in competing memoranda yesterday, Apple and a group of U.S. Senators are prepared to go head-to-head in a committee hearing examining the tax avoidance strategies of Apple and other multinational corporations. CEO Tim Cook, CFO Peter Oppenheimer, and Apple's head of tax operations Phillip A. Bullock will appear in front of the U.S. Senate Permanent Subcommittee on Investigation in the second part of a committee hearing running now. The hearing is streaming live on C-Span and we will be liveblogging the hearing below. Apple yesterday released a statement laying out some of its international operations and financial strategies, noting that it paid $6 billion in federal income tax in 2012 and that it has created hundreds of thousands of jobs in the United States. A bipartisan group of Senators responded with a statement of its own, accusing Apple of using several offshore subsidiaries to avoid paying income taxes. Said Senator Carl Levin (D-MI), "Apple sought the Holy Grail of tax avoidance. It has created offshore entities holding tens of billions of dollars, while claiming to be tax resident nowhere." Earlier today, the Irish government -- where a number of Apple's subsidiaries are headquartered -- said that it was not responsible for the tax rates Apple pays in other countries and that its system was transparent. Liveblog will start once Apple's employees appear in front of the committee Note: Due to the political nature of the discussion regarding this topic, the comment thread is located in our Politics, Religion, Social Issues forum. All MacRumors forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts. Recent Mac and iOS Blog Stories • Vudu Player for iOS Gets Updated With Ability to Download Movies • Apple to Open New Adelaide Retail Store in Australia on May 25 • Burj Al Arab in Dubai Introduces Gold-Plated iPads for Guest Use • Tumblr Acquired by Yahoo, iOS App Gets Redesigned User Interface • Turkish Prime Minister Visits Apple Ahead of Major Tablet Purchase • Gameloft's 'N.O.V.A. 3' and 'Gangstar Rio: City of Saints' Are Free for the Weekend • 'Haunting Melissa' App Brings Episodic Movie Exclusively to iPhone and iPad • FTC Begins Sending COPPA Letters to App Developers Ahead of July Rule Change
http://www.macrumors.com/2013/05/21/apple-ceo-tim-cook-and-cfo-peter-oppenheimer-testify-in-front-of-senate-committee-on-tax-strategies-live/
