Tim Cook labels Apple tax avoidance allegations “total political crap”

He says that out-dated tax policies are driving US companies abroad

apple, ireland, iphone, corporation tax, business, european commission


Apple CEO, Tim Cook defended his company's financial practises when accused of engaging in tax avoidance. After is was suggested that the company has built a "sophisticated scheme," to avoid paying taxes he replied, "That is total political crap."

He continued to say that he would, "love to bring it home [to the US]" - he said that if he did the level of tax that Apple would be required to pay would not be "reasonable."

"This is a tax code that was made for the industrial age, not the digital age. It’s backwards. It’s awful for America. It should have been fixed many years ago. It’s past time to get it done," he told Charlie Rose during a special episode of CBS's 60 Minutes.

The European Commission is seeking additional information from Ireland as it continues its investigation into Apple's tax payments here.

The EU has broadened its probe into Apple's tax payments in Ireland - the investigation centres around claims that the US tech-giant was offered illegal preferential tax terms in a so-called 'sweetheart' deal.

Ireland's Department of Finance confirmed last week that it is now supplying the Commission with additional information which has been requested through a list of supplementary questions.

This will delay the conclusion of the EU's long-running investigation into Apple's tax payments. A decision had been expected during the second quarter of 2014.

Throughout the investigation Government officials have insisted that the country has complied with EU rules and that, in the event of a negative finding, the State is ready to launch an appeal.

Apple has said that it would support such an appeal - and that it has not been involved in any wrongdoing.