Apple to Reportedly Double Lobbying Dollars on Tax Matters
As MMi reported
Tuesday, earlier this week Apple CEO Tim Cook testified at a Senate hearing that largely probed how Apple uses Irish subsidiaries to allegedly shelter billions of dollars in income from U.S. taxes. Cook strongly defended Apple's tax practices.
"We pay all the taxes we owe — every single dollar," Cook told members of the Senate's Permanent Subcommittee on Investigations. "We not only comply with the laws but we comply with the spirit of the laws," he said. "We don't depend on tax gimmicks."
Apple, however, is poised to dramatically accelerate lobbying dollars on tax-related matters this year, according to a new report from Reuters. "The company spent about $2 million on lobbying last year, up from $180,000 in 1999," Reuters found. "This year it is on pace to nearly double last year's figure."
"Clearly, Apple does not have a huge footprint for the tech sector. I don't mean to denigrate almost $2 million (spent on) lobbying - that's a lot of money - but it's not as much as other tech companies have been spending," explains Bill Allison, editorial director for a non-profit that explores the role of money in politics.
Allison is right about Apple's lobbying efforts compared to others in tech. Microsoft Corp., for example, spent $8.1 million in 2012. Google, meanwhile, spent $16.5 million.