Apple target of Senate probe into offshore tax practices
Apple will reportedly be the subject of a Senate hearing next week into U.S. companies' offshore tax practices.
Apple CEO Tim Cook is expected to testify Tuesday before the Senate Permanent Subcommittee on Investigation, according to Politico, which first reported on Apple's involvement at the hearing. The committee has been examining the various tax-avoidance strategies used by companies, including Microsoft and Hewlett-Packard, and how that affects U.S. interests.
Apple recently announced a $17 billion bond plan as part of its shareholder capital returns plan that will save it $9.2 billion in taxes it would have had … Read more