Apple Seen Using Loopholes to Avoid $9 Billion in Taxes
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Apple Inc. used “loopholes” to avoid paying $9 billion in U.S. taxes in 2012, U.S. Senator Carl Levin said at a hearing that brought the company’s chief executive officer, Tim Cook, to Washington to defend the strategies.
“Apple executives want the public to focus on the U.S. taxes the company has paid, but the real issue is the billions in taxes it has not paid,” said Levin, a Michigan Democrat. Apple employs “offshore tax strategies whose purpose is tax avoidance, pure and simple,” he said.