Apple (AAPL) Won’t Pay US Taxes For This Reason

Tim Cook, Apple’s CEO, has just shot back at critics over the tech giant’s strategy to avoid paying U.S. taxes. Apple has been labeled a “tax dodger” by critics.

Cook told The Washington Post in an interview that the company would not bring that money back from abroad unless there was a “fair rate.”

The U.S. has a corporate tax rate of 35%, and is among the highest in the developed world.

According to the nonprofit Citizens for Tax Justice, they estimate that big companies have parked more than $2 trillion offshore,which is subject to more favorable tax rates.

Cook has defended their strategy by saying, “The tax law right now says we can keep that [profit] in Ireland or we can bring it back.”

“It is the current tax law. It’s not a matter of being patriotic or not patriotic,” he told The Post. “It doesn’t go that the more you pay, the more patriotic you are.”

Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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