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re: Apple CEO and CFO testify in front of Senate Committee on Tax Policy: Excerpts
Posted on 5/21/13 at 11:12 am to TheOcean
Posted on 5/21/13 at 11:12 am to TheOcean
If they are breaking no laws, why are they having to testify in front of a congressional panel?
eta: How is Mccain "grilling" him? The only argument he has made is that Apple has an "unfair" advantage to smaller companies or whatever heartstring he is trying to pull on.
eta: How is Mccain "grilling" him? The only argument he has made is that Apple has an "unfair" advantage to smaller companies or whatever heartstring he is trying to pull on.
This post was edited on 5/21/13 at 11:14 am
5
Posted on 5/21/13 at 11:13 am to TheDiesel
i would like to know this too.
Posted on 5/21/13 at 11:16 am to TheDiesel
I'm not a tax expert, but I'm guessing the major issue is how much control Apple, Inc exerts over their subsidiaries in foreign Countries. Ireland basically said that the Apple subsidiaries are 100% controlled by Apple, Inc and they should be paying US income taxes on the gross profits. I believe that's why the hearings are going on.
Posted on 5/21/13 at 11:17 am to TheDiesel
quote:
If they are breaking no laws, why are they having to testify in front of a congressional panel?
I believe that Tim Cook wanted to testify. Apple would love for the tax code to be simplified and their not to be a 35% tax on repatriated earnings. Apple can look forward to the massive piles of money that they are going to have stuck over seas and hopes for some kind of tax reform.
Posted on 5/21/13 at 11:19 am to TheDiesel
quote:
If they are breaking no laws, why are they having to testify in front of a congressional panel?
I think that the fact that the US government is suing Apple, this is more like a legal hearing or deposition. Someone correct me if that's not the case.
This post was edited on 5/21/13 at 11:22 am
Posted on 5/21/13 at 11:40 am to TheDiesel
quote:Congress can call anyone to testify before it regardless if any laws have been broken.
If they are breaking no laws, why are they having to testify in front of a congressional panel?
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