Tech giants underpaid taxes but criticized Cook: global corporate tax system needs reform

NetEase Technology News on January 21st, according to foreign media reports, on Monday local time, Apple CEO Tim Cook said when he went to Ireland to receive the award, everyone knew that the global corporate tax system needed to be completely reformed. He supports changes to the global rules currently under consideration.

The rapid growth of Internet giants such as Apple has pushed international tax rules to the limit, prompting the Organization for Economic Cooperation and Development (OECD) to carry out global reforms on where multinational companies should pay taxes.

The reforms under study are mainly focused on the profit records of multinational companies in low-tax countries, such as Ireland. Multinational companies like to register companies in these countries, but this is not where most of their customers are located.

“I think, logically, everyone knows that the corporate tax system needs reform, and I know that the current or past system is not perfect. I am optimistic that the OECD can find the right solution. Know-How to tax a multinational company is very complicated, and we are eager to introduce a fairer corporate tax system. “

Apple has been commended by the country’s investment agencies for investing in Ireland for 40 years. The company is one of Ireland’s largest multinational employers with 6,000 employees. Both Apple and the Irish government have appealed to the courts against the EU’s order that Apple must pay the country 13 billion euros in taxes. The appeal to the EU High Court started last September and may last for several years.

Cook said Apple’s commitment to Ireland is “unshakable.” In 1980, Apple expanded its operations to Ireland, which was the company’s first country in Europe.

The Apple CEO also said that more regulation is needed in the area of ​​privacy and must go further than the European General Data Protection Regulation (GDPR) of 2018, which gives the regulator more power.

“I think there needs to be more regulation in this area,” Cook said. “Although a businessman talking about regulation may be strange, it is clear that companies will not self-regulate in this area.”

He continued: “We were one of the first companies to support GDPR, and we think it’s good for everyone in general. We think it’s necessary, but not enough. We have to go further, Let privacy issues get the protection they deserve.

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