Apple Inc. Chief Executive Officer Tim Cook defended his company’s use of offshore tax shelters before U.S. senators who castigated the most-valuable technology company for avoiding $9 billion and more in payments.
Actavis Inc.’s $5 billion deal to buy Warner Chilcott Plc brings in a new stable of brand-name women’s health drugs. It also comes with headquarters relocated to Ireland and lower taxes for the combined company.
Apple Inc. used “loopholes” to avoid paying $9 billion in U.S. taxes in 2012, U.S. Senator Carl Levin said at a hearing that brought the company’s chief executive officer, Tim Cook, to Washington to defend the strategies.
Apple Inc., outlining proposals for a simplification of the U.S. corporate-tax system, urged Congress to lower tax rates and implement levies on foreign earnings that will enable “free movement” of capital back to the U.S.
U.K. Prime Minister David Cameron held back from discussing the tax affairs of Google Inc. during a meeting with business leaders who included the California- based company’s executive chairman, Eric Schmidt.