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Apple CEO in hot seat over taxes
WASHINGTON, D.C. (NEWSCHANNEL 3) - Apple CEO Tim Cook was in the hot seat Tuesday.
He is defending the company's policy of shifting billions of dollars of income overseas, specifically to a subsidiary in Ireland.
Critics say it allows Apple to avoid paying its fair share of U.S. Taxes.
"No company should be allowed to determine how much they're going to pay in taxes using all kinds of gimmicks to avoid paying the taxes that should be paid to this country, said Senator Carl Levin.
"We pay all the taxes we owe - every single dollar. We not only comply with the laws, but we comply with the spirit of the laws. We don't depend on tax gimmicks," said Cook.
During a lighter moment in the hearing Senator John McCain wanted an answer to a question a lot of iPhone users have.
Thank you. I'm out of time, but what I really wanted to ask is why the hell I have to keep updating the apps on my iPhone all the time and why you don't fix that. Thank you, Mr. Chairman," said McCain.
"Sir, we're trying to make them better all the time," said Cook.
Tuesday's hearing came after a Senate report that Apple avoided paying billions of dollars in taxes.
Cook said he believes the solution is to simplify the tax code.