The firm is compliant with both the law and the spirit of the law, the CEO told a Senate Committee yesterday, adding that last year Apple paid $6 billion in taxes--a rate of around 30%.
Ireland, where Apple has a local office as part of a complex international tax system, says it's not to blame for U.S. government failures to clawback Apple's tax.
Tim Cook, due in Washington today, will not find the report easy reading. It claims that, while it didn't break any laws, the firm used U.S. tax loopholes and the low rate of business tax in Ireland to shield $44 billion from the world's fiscal systems.
James Green, CEO of the search retargeting company Magnetic, was once hired by Jobs as a VP at Pixar Animation Studios. And, curiously, it was while working for one of his biggest business heroes that Green learned what not to do when leading a company.
