The European Union’s imposition of a 13 billion euro ($14.5 billion) back tax bill on Apple (AAPL.O) is “total political crap”, Chief Executive Tim Cook said in a newspaper interview on Thursday, and anti-U.S. bias may have played a role.
But in a separate radio interview he vowed to boost Apple’s tax payments by repatriating billions of dollars in global profits to the United States next year.
On Tuesday, EU Competition Commissioner Margrethe Vestager questioned how anyone might think an arrangement that allowed Apple to pay a tax rate of 0.005 percent, as Apple’s main Irish unit did in 2014, was fair.
“They just picked a number from I don’t know where,” Cook told the Irish Independent, estimating Apple’s average annual tax on its profits at 26 percent.
Cook said he would fight closely with Ireland to overturn the ruling, which he said had “no basis in law or in fact”. It is by far the largest anti-competition penalty imposed on a company by the EU.
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.