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COOK: 'Apple pays every tax dollar we owe'

Dec 21, 2015, 07:53 IST

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Apple CEO Tim CookAstrid Stawiarz/Getty Images for RFK Human Rights

Apple CEO Tim Cook is not happy about people calling him a "tax avoider," and thinks the current US tax code on foreign income is broken.

It's especially important to Apple, as Cook is "certain" a foreign country will overtake the US as its largest market.

It's not just that the number of people in markets like China is larger, but more critically, the number of people growing into the middle-class. For a consumer company, that's the key to growth, Cook said during an interview with "60 Minutes".

But with that growth comes international profits, and Apple has been accused of hoarding billions of dollars overseas in order to allegedly dodge higher corporate tax rates.

Cook got uncharacteristically rattled by questions about whether his company should be paying more money in America.

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When Rose followed up with the Senate's assertion that Apple's running a scheme "to pay little or no corporate taxes on $74 billion in revenues held overseas," Cook simply said it's "total political crap."

NOW WATCH: Apple wants to replace the iPhone with this advanced technology

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