But there is no income--there is no tax paid on the money itself that has been sent to Apple.
I do not consider deferral to be a sham or abuse in any kind of way.
Has AOI filed a corporate income tax return in the last 5 years?
There is no effort to vilify anybody. We are trying to shine a spotlight on the practices of a big company.
Neither one of those companies files an income tax with the United States.
Thank you very much, Senator McCaskill.
You shifted your intellectual property there. That is your choice.
Apple Inc. keeps those intellectual--those economic rights, right?
I could not disagree with you more. Of course you shifted something, the most valuable thing you have.
Is it true that you are not going to bring them home unless we reduce our tax rates?
That agreement did two things: it shifted the economic rights, the way they had been shifted before, 30 years ago.
You made a decision, which you have a right to do, not to bring that money home.
Somehow or other you have to figure out, if there were an arm's-length deal here, what would be shifted.
I think the obligation of the Treasury Department here is to ensure that laws that are passed are implemented in the way...
And the pricing, when you look at the facts and circumstances, is it also the value of what is transferred?
I think we should take the President up on his offer to do corporate tax reform.
Is that an arm's-length agreement?
You have an agreement which shifts the economic rights, the most valuable thing you have, to three Irish companies that ...
