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Tim Cook

Apple CEO Tim Cook Calls Overseas Tax Rap As Political Crap

Charlie Rose, the contributor of ’60 Minutes’ on CBS recently conducted a lengthy interview with the Tech giant Apple’s CEO Tim Cook where Tim Cook describes the concept that Apple is avoiding the overseas taxes on profit is just ‘total political crap’. The chief executive of Apple was agitated when told about the notion that many still believes Apple is being engaged in paying little or no taxes at all on overseas revenue. But he rejected this completely and told that this is not true and it is nothing but total political crap. He also added that Apple pays every tax dollar they owe and amount of paid taxes by them is more in this country than any other companies.

Tim cook discussed many other hot button issues such as the manufacturing products in China and the encryption technology in that interview. Charlie Rose from ’60 minutes’ also spoke to the Apple design Chief Jonathan Ive who allowed the 60 minutes camera to have a glance at the process that developed the very popular iPhone, iPad and other similar revolutionary products. This entire Apple story captured by Rose will be aired on ’60 minutes’ on Sunday at 7.00 PM PT and 7.30 PM ET.

The revolutionary and high quality products of Apple are the reason that made it pay more taxes by making Apple one of the best sellers globally. Cook said in the interview that a large section (around two-third) of their profit is generated from overseas but the overseas profits are being kept in the foreign subsidiary like any other MNC for avoiding US taxes. He also mentioned that he would always love to bring that money home but it does not make any sense as they need to incur 40 percent tax to for that. This is really backward and appalling for America that should have been fixed long back.

Tim cook was being interviewed by Charlie Rose in the ’60 minutes’ on CBC once again before the Paris attack. The attackers used encrypted message to communicate with each other in that attack. According to Cook, government should have a window to have an insight into the customers’ private communication which he said before also. The trade off is not just privacy vs national security rather a nation should maintain both privacy and national security and this is a very simplistic view.

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