Apple's Tim Cook defends tax strategy in Senate
May 22, 2013  00:26

The technology giant Apple has been defending itself against accusations that it's avoided paying tax on tens of billions of dollars in profits. Chief executive Tim Cook told a US Senate committee Apple paid all the taxes it owed, complying with both the law, and the spirit of the law.

 

He said last year it paid $6bn to the US Treasury, a tax rate of about 30%. The head of a Senate committee panel had earlier accused Apple of exploiting an absurdity in its tax payments. Apple's grilling comes as leading global brands are under growing scrutiny over their tax methods.

 

Read the full report on BBC

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