GAINESVILLE, Fla. – Apple CEO Tim Cook went before a Senate panel Tuesday, May 22, to deny that his company is avoiding paying billions of dollars in taxes. The Senate hearing was called to examine Apple’s practice of shifting income to offshore entities, resulting in drastically lower tax rates for the company. Cook told the panel that the company paid a 30.5 percent tax rate on U.S. profits and the income housed in offshore accounts were from international sales.
UF Law Professor Omri Marian is available to speak about the legal issues surrounding Apple’s practice of shifting income to offshore accounts.
In a forthcoming article in the Boston College Law Review titled “Jurisdiction to Tax Corporations,” Marian proposes a new policy-perspective for international corporate taxation, questioning whether foreign subsidiaries of U.S. companies, such as many of Apple’s, should indeed be viewed as “foreign.” The paper can be downloaded at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2245802.
Marian specializes in international taxation, comparative taxation and taxation of financial instruments. He joined the UF Law faculty in 2012 after leaving the firm of Sullivan & Cromwell LLP in New York.
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