Taxing Testimony: 10 Highlights From Apple CEO Tim Cook's Remarks To Congress


Apple Supports Corporate Tax Reform

"We recommend a dramatic simplification of the corporate tax code. This reform should be revenue-neutral, eliminate all corporate tax expenditures, lower corporate income tax rates, and implement a reasonable tax on foreign earnings that allows the free flow of capital back to the United States. We make this recommendation with our eyes wide open, fully recognizing that this would likely result in an increase in Apple's U.S. taxes. But we strongly believe that such comprehensive reform would be fair to all taxpayers, would keep America globally competitive, and would promote U.S. economic growth.

"I think the [tax] rate on U.S. sales, in my judgment and from most of the studies I've seen, indicate it would need to be in the mid-20s as all of the expenditures are dropped out."

 



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