Tim Cook: 'Apple Does Not Funnel Its Domestic Profits Overseas'

Apple CEO Tim Cook is speaking to journalists before he testifies to a Senate subcommittee on Apple’s offshore tax practices.

Instead of sending a lower-level executive, Cook has decided to speak himself and offer Congress his ideas for comprehensive tax reform. He spoke to POLITICO in a rare interview.

“We don’t have a large presence in Washington, as you probably know, but we care deeply about public policy and believe creative policy can be a huge catalyst for a better society and a stronger economy,” Cook said.

He also defended his company’s conduct saying, “I can tell you unequivocally Apple does not funnel its domestic profits overseas. We don’t do that. We pay taxes on all the products we sell in the U.S., and we pay every dollar that we owe. And so I’d like to be really clear on that.”

via Politico