Apple's Cook says global corporate tax system must be overhauled

Apple | January 20, 2020

Everyone knows that the global corporate tax system needs to be overhauled, Apple (AAPL.O) Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration. The growth of internet giants such as Apple has pushed international tax rules to the limit, prompting the Organisation for Economic Cooperation and Development (OECD) to pursue global reforms over where multinational firms should be taxed. The reforms being examined center around the booking of profits by multinational firms in low-tax countries such as Ireland where they have bases - and where Cook was speaking on Monday - rather than where most of their customers are. “I think logically everybody knows it needs to be rehauled, I would certainly be the last person to say that the current system or the past system was the perfect system. I’m hopeful and optimistic that they (the OECD) will find something,” Cook said.

Spotlight

A one-minute recap of a recent discussion about the findings from our annual risk management survey of major financial institutions. To view the full webcast recording, see http://www.ey.com/GL/en/Issues/webcas...

Spotlight

A one-minute recap of a recent discussion about the findings from our annual risk management survey of major financial institutions. To view the full webcast recording, see http://www.ey.com/GL/en/Issues/webcas...

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PAYMENTS

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Allied Payment Network, Movencorp | February 17, 2021

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PAYMENTS

Qolo Sets an Embedded Processing Capability and Platform Licensing Using Its Cloud Infrastructure

Qolo | February 02, 2021

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FINTECH

Currencycloud Will Be Acquired By Visa

Visa, Currencycloud | July 23, 2021

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