Apple CEO Tim Cook goes before a Senate Permanent Subcommittee on Investigations to testify on Apple’s offshore tax practices.
The hearing will also feature two additional panels with treasury department officials and tax law academics. While watching the anticipated theatrics of the generally shameless politicians, keep in mind that the U.S. Senate investigation found no evidence that Apple did anything illegal in avoiding taxes.
According to The Associated Press, the subcommittee’s inquiry and hearing are intended to shine a light on “offshore tax-avoidance tactics” by Apple, Sen. Carl Levin, D-Mich said at a news conference Monday with Sen. John McCain of Arizona, the panel’s senior Republican. Companies’ use of such loopholes has the effect of raising the taxes of ordinary Americans and increasing the federal deficit, he said.
MacDailyNews Take: “Don’t look at the profligate federal spending for which I and my colleagues are responsible, of course. Look over here, instead.”
C-SPAN will carry the coverage live online and on their broadcast channels today:
Broadcast Airings:
May 21 at 9:30 AM – C-SPAN11 (4 hr, 30 min)
May 21 at 10:35 AM – C-SPAN (1 hr, 25 min)
The hearing is scheduled to begin at 9:30am EDT here.
Related articles:
U.S. Senate investigation found no evidence that Apple did anything illegal in avoiding taxes – May 20, 2013
Apple’s U.S. tax fallout set to have global impact – May 20, 2013
Hagens Berman investigating Apple Inc., others regarding tax-avoidance schemes; seeks whistleblower information – May 20, 2013
Grandstanding U.S. Senate panel expected to castigate Apple CEO Tim Cook for leading U.S.’s largest corporate income taxpayer – May 20, 2013
Apple publishes full testimony to be given before the U.S. Senate Permanent Subcommittee – May 20, 2013
Apple CEO Tim Cook to propose ‘dramatic simplification’ of U.S. corporate tax laws – May 18, 2013
Apple CEO Tim Cook to propose U.S. tax reform for offshore cash – May 17, 2013
Apple CEO Tim Cook goes on offense in Washington D.C. over $100 billion offshore cache – May 16, 2013