Apple CEO Denies Avoiding Taxes With Offshore Shell Cos.

Law360, Washington (May 21, 2013, 5:41 PM EDT) -- Apple Inc. CEO Timothy D. Cook on Tuesday defended his company's policy of holding billions of dollars in worldwide revenue in Irish shell corporations and shielding them from U.S. and international corporate taxes, telling a Senate investigations subcommittee that contrary to its report, Apple hasn't undercut its tax responsibilities.

Cook and other Apple executives acknowledged during a Permanent Subcommittee on Investigations hearing Tuesday that the technology giant pays significantly lower taxes on the revenue and investments held in three Irish subsidiaries and he claimed the company...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.