Tim Cook: Apple Pays Every Tax Dollar We Owe

Apple CEO Tim Cook has today dismissed the notion that the tech giant was avoiding taxes in the United States, by calling it “total political crap”, Reuters reports. In an interview with CBS 60 Minutes’ Charlie Rose, he stated that Apple pays every single tax dollar it owes. Apple pays more taxes than any other company because its makes the most money on its products that are best sellers around the world. Two-thirds of Apple’s revenue comes from overseas, Cook explained.


During the exclusive interview, Cook was agitated when reminded by Rose that many in Congress believe Apple is engaged in a scheme to pay little or no taxes on $74 billion in overseas revenue. “That is total political crap. There is no truth behind it. Apple pays every tax dollar we owe,” he said. “We pay more taxes in this country than anyone”.

Like most U.S. multinational corporations, Apple keeps that overseas income in foreign subsidiaries, to avoid U.S. taxes. He says he would “love to” repatriate it but he can’t “because it would cost me 40 percent [in taxes] to bring it home. And I don’t think that’s a reasonable thing to do,” he says. “This is a tax code, Charlie, that was made for the industrial age, not the digital age. It’s backwards. It’s awful for America. It should have been fixed many years ago. It’s past time to get it done.”

Both Republican and Democrats acknowledge that the US tax code needs to be reformed but disagree over how to go about doing it.

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  • JC

    First sentence “Tim Cook” instead of “Time Cook”!

  • Aleks Oniszczak

    I have to defend Tim Cook on this one. It’s the US government itself that created the rules that allows Apple (and just about every other corporation that can afford to hire an accountant) to not pay taxes on the majority of their earnings. So why are they pretending to be upset at Apple for following THEIR rules? They certainly could change the rules if they felt like it so that Apple and other corporations would have to pay taxes on the money they have funneled overseas. But they don’t.

  • It’s a non denial denial – all the tax we owe – read after our skillful tax lawyers shuffled the cards.

  • Shameer Mulji

    Can’t blame them for taking advantage of the loopholes the Government created. I would. I’m not paying taxes I don’t have to pay.

  • m Arch Tom’s on Bar N Ass

    T.C. HELLO ! there is a on-going investigation for fiscal fraud in EU ( European commission and the regulators ) and investigations also occurring with starbucks, mcDOnald’s and Amazon. ( all of the above for fiscal fraud over copyrights, licenses and royalties revenues ). NOW ! Who is lying ? Both EU commission and US Inland Revenue or Apple ?