If you listened to Cook, Oppenheimer and Bulluck's testimony, all the profits made via the Irish entities was from revenue made in overseas sales not U.S. I understand Bigbiz's question as I thought the same thing. One of the entities is a holding company. I'm not sure how all of this works but I know in contractual matters it makes a difference where the point of sell took place or originated. I know if I buy something online via Amazon or whoever, I don't pay sales tax unless that company whom I purchased goods has a physical business in my state. If they do, then I have to pay that state's applicable sales tax. If not, nada! What I did get from this hearing yesterday is Apple is complying with the law put in place and shouldn't be singled out for not paying enough U.S. taxes. Our Congress is backwards. The fact that we are the ONLY country that has not amended its tax code since the 1960's totally blows me away!
MCain actually joked with Cook after grilling him about the Irish companies' residency. Cook did a good job holding his ground that Apple pays its applicable Irish taxes for those companies I thought!
Nothing!!! Carly is right. Instead of this ridiculous hearing on Apple evading taxes, they should be meeting on how and when to change the tax code so the U.S. isn't the highest corporate tax rate in the world. This is a global economy dummies!!!!!
He is pi22222in off Levin
...Paul has clearly upset Sen. Levin. "No company should be able to determine how much it's going to pay in taxes, how many profits it's going to keep offshore," Levin says. Paul has just insisted that "money goes where it's welcome" and says the tax code makes it not welcome in the U.S.