Apple has released a statement (PDF) outlining testimony due to be delivered this week to the U.S. Senate Permanent Subcommittee on Investigation by Apple CEO Tim Cook, CFO Peter Oppenheimer, and head of tax operations Phillip A. Bullock.
In the seventeen page statement, Apple notes that it has created hundreds of thousands of jobs in the United States — both directly and through suppliers and contractors. It notes that the company paid nearly $6 billion in federal taxes in fiscal 2012 and the company expects to pay $7 billion in 2013.
The company also says Apple “does not use tax gimmicks”, pushing back against reporting in The New York Times that examined Apple’s international tax strategies.
Apple goes on to say that it complies fully with both the laws and spirit of the laws, and pays all required taxes, both in this country and abroad.
The company also says it supports comprehensive U.S. corporate tax reform, proposing a new system that is “revenue neutral, eliminates all tax expenditures, lowers tax rates and implements a reasonable tax on foreign earnings that allows free movement of capital back to the US.” Apple also notes that such reform would most likely result in the company paying even more in corporate tax than it does now.
Apple CEO Tim Cook and CFO Peter Oppenheimer will appear at 9:30AM Eastern time in front of the U.S. Senate Permanent Subcommittee on Investigation. The hearing is titled “Offshore Profit Shifting and the U.S. Tax Code – Part 2” and will be held in the Dirksen Senate Office Building.
