During the testimony given before a senatorial commission during the past hours, Tim Cook was asked by an American senator if there is any possibility for Apple to move its headquarters to another country to benefit from lower taxes. Everything is based on an alleged agreement between Apple and the Irish government, the company paying only 2% taxes on its income. Tim Cook stated that Apple benefits from this reduced tax based on an initiative of the Irish government, in the 80s it offered tech companies the opportunity to pay very low taxes just to build factories there and generate jobs.
We're an American company, and we're proud to be an American company. The vast majority of R&D is in California. We're there because we love it there. It's who we are as people. We're an American company whether we're selling in China, or Egypt, or Saudi Arabia. It has never even entered my mind to move our headquarters to another country, and I have a wild imagination.
Following this agreement, Apple paid taxes of only 10 million dollars on receipts of 74 billion dollars, but this will not convince the American company to move its headquarters from the USA. Despite the fact that the US imposes very high taxes on companies' incomes, Tim Cook stated that Apple is an American company and he did not think of any scenario in which the headquarters could be moved from the US. Cook demands a change in the tax legislation, a reduction in taxes, but until this happens, Apple's money will remain outside the US.
