Yesterday’s Senate subcommittee hearing, in which Apple CEO Tim Cook was asked to explain alleged tax avoidance measures, turned into something of a damp squib, each side effectively stating their respective positions rather than engaging in any head-to-head debate … expand full story
Apple taxes May 22, 2013
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Washington Post columnist Allan Sloan observes that Apple’s plan to buy back $60b of its own stock will reduce the company’s tax bill by more than the cost of the loans it will take out to fund the share repurchase program.
If you’re wondering why a company with a cash balance of $145b would need to borrow $60b, it’s all about tax … expand full story