Apple 'avoided $1m tax per hour' in US in 2012
A Senate committee has accused Apple of using "a complex web of offshore entities" to avoid paying billions of dollars in US income taxes.
Speaking ahead of testimony from Apple CEO Tim Cook, panel chairman Senator Carl Levin accused the company of avoiding paying $9bn in tax in the US in 2012 alone.
He suggested that this equated to more than $1m per hour in lost tax revenue to the US.
The Senate committee accepts there is no evidence that Apple has acted illegally.
21 May 2013
- From the section Business