Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration.
FILE PHOTO: Apple's CEO Tim Cook speaks with Singapore Paralympian Theresa Goh at the OCBC Aquatic Centre, Singapore Sports Hub December 12, 2019. REUTERS/Edgar SuDUBLIN: Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration.
The growth of internet giants such as Apple has pushed international tax rules to the limit, prompting the Organisation for Economic Cooperation and Development to pursue global reforms over where multinational firms should be taxed."I think logically everybody knows it needs to be rehauled, I would certainly be the last person to say that the current system or the past system was the perfect system.
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