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-- long on Fox Business Apple's chief executive Tim Cook taking some pretty tough questions from a US senate subcommittee today.
About the text the tech giants tax strategies so looking -- how much the top companies who were in that.
And apple universe paid in taxes last year.
App poll comes in third place and by the way this is I believe income tax yes income tax.
But a separate report claims that number should have been -- larger.
And again regardless.
Zero in corporate taxes from this this office in Ireland Liz MacDonald let's get to it -- that looks a little fishy when they've got.
A lot of revenue coming in to -- if they didn't pay any Irish.
Corporate taxes -- US taxes and yet nothing is illegal about what apple stopped.
What that apple is saying is that the the senators have it all wrong they're saying that 61% of apple sells it.
Comes from overseas and they operations and Ireland.
Are not phantom shell operations of has been characterized by -- senator Carl Levin.
They're actually operations -- let's get right to -- 4000.
Workers say oversee two thirds of the global sales for apple.
And they sell out or products into Europe mid the middle East Africa Asia and the Pacific.
They do do manufacturing -- -- customer service supply chain and finance.
And he put out there is no evidence of anything illegal.
The problem is is -- for these units is that there are tax rate is really low in Ireland Ireland they only -- that 1% 2%.
To the government of Ireland.
But Apple's Tim Cook really got got heated in testimony today.
He's -- there's no gimmicks and all that -- -- here's what Tim Cook told the senate.
We pay all the taxes we.
Every single dollar.
We not only comply with the laws but we comply with the spirit of the -- -- We don't depend on tax gimmicks.
He's also saying that you know apple paid does -- US -- pay federal taxes on investment income from those units in Ireland that they it pays local US taxes and oversees taxes.
And it paid six billion dollars in federal taxes last year senator Rand Paul Liz got really heated he said instead of Apple's Tim Cook sitting in the chair.
It should be a giant mirror sitting in the chair hearing back the problem that is this very complicated US tax cut that companies have to pay.
Income taxes aren't gonna give it back to -- Well when are we gonna fix it I mean if you don't like how they're using the actual law then either fix it figure something out but right now -- Front page of the Wall Street Journal as well they went through all of it.
Zero in certain tax payments but nonetheless it's -- That's not yet but that's a rape that odd that apple has negotiated with the government of Ireland what's at issue with is whether apple -- bring those pat profits.
Overseas to the US and Apple's Tim Cook is very clearly has that -- -- the testimony he's saying it's not like we're using these units to make sales in the US does not sell the -- -- -- Ireland the Ireland -- oversee the operations in Europe Africa Asia and the Pacific and elsewhere and in the Middle -- if so that's what about those profits -- -- cash is overseas to support this operation -- pointless thank you very -- Liz MacDonald.
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