Apple CEO Tim Cook testified before the US Senate on allegations of tax evasion from the Standing Committee on Investigation.
Apple CEO Tim Cook is testifying before the US Senate today.
Accordingly, Apple used many companies located abroad to transfer billions of dollars from the US to Ireland and a number of other countries.
Apple Operations International (AOI), a `front` company located in Ireland, is the main name in the system that Apple has set up.
Apple also has no official representative for AOI and in fact the company has not had a single employee in the past 33 years.
To make this high move, Apple took advantage of the laws of both the US and Ireland.
Apple Sales International (ASI) also contributes significantly to Apple’s superior tax evasion system.
Before 2012, ASI had no employees but its income still reached 38 billion USD in 3 years.
Through its arrangements and ingenious calculations, Apple, according to details in the Senate indictment, evaded a total of 12.5 billion USD in taxes in 2011 (3.5 billion USD) and 2012 (
In response to unfavorable information for the business, CEO Tim Cook affirmed in the hearing: `We pay the full amount of tax according to our responsibility, every penny, and do not use any tricks to escape.`
Apple also said that the US tax system `has not kept up with the development of the digital age and the rapid changes in the global economy. Before the hearing, Apple representatives assured that the company is
