Apple CEO Tim cook dinner will testify in front of the U.S. Senate everlasting Subcommittee on Investigation subsequent week, Politico is reporting. The subcommittee is hooked up to the U.S. Senate Committee on fatherland safety and Governmental Affairs.
The hearing, titled “Offshore profit transferring and the U.S. Tax Code – part 2” will happen at 9:30AM on Tuesday may 27th within the Dirksen Senate administrative center constructing.
The Subcommittee will continue its examination of the structures and strategies employed by using multinational firms to shift profits offshore and the way such activities are suffering from the inner earnings Code and related laws. Witnesses will embody representatives from the department of the Treasury, the inner revenue provider, representatives of a multinational business enterprise, and tax specialists.
Representatives from Microsoft and HP testified on September 12 on the same topic.
Apple not too long ago borrowed $17 billion in a bond offering, partly to come back money to shareholders without bringing a few of its $one hundred billion in a foreign country money pile to the us. If it were to repatriate that cash to the U.S., it might need to pay a more than $13 billion tax invoice.
recent Mac and iOS blog tales
• Verizon Cuts value on iPhone 5 through $100 for Some shoppers
• Mophie Introduces New 2,a hundred mAh iPhone 5 Battery Case
• Limelight for iPhone Lets customers Catalog and Share movie choices
• iMovie updated With worm Fixes and balance enhancements
• ABC starts offevolved reside Streaming Philly and NYC Stations via iOS App
• Makers of Clear Tease New iPhone pictures App 'Analog digital camera'
• Groupon Releases 'Breadcrumb' level-of-Sale App for iPad
• Firefox 21 Launches with more desirable Social API improve, well being record
extra: persevered here