tax evasion

11:45 am
Tue May 21, 2013

Senator Rand Paul Defends Apple Against Tax Evasion Charges

U.S. Senator Rand Paul, R-Ky. is scolding colleagues for grilling Apple executives

Republican U.S. Senator Rand Paul of Kentucky blasted Democratic lawmakers for calling on Apple Inc.'s chief executive to testify over moving assets offshore to avoid taxes.

Apple CEO Tim Cook was called to testify before a Senate panel on Tuesday over claims the technology company is exploiting loopholes to avoid paying billions of dollars in taxes.

A report compiled by the Senate Permanent Subcommittee on Investigations found Apple is holding around $102 billion of its $145 billion in profits overseas while using technicalities to avoid any levies.

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