Apple called out by economist over failing to pay taxes
Stiglitz says Apple needs to pay its fair share
Apple Inc. was taken to task on Thursday during a panel discussion at the World Economic Forum in Davos, Switzerland.
The issue was taxes, or the failing to pay them.
CEOs and political leaders in Davos have been discussing companies being responsible for their employees, their suppliers, and their communities.
Some say Apple hasn't lived up to this ideal, according to 9 to 5 Mac.
US economist Joseph Stiglitz is one of them, saying Apple needs to pay its fair share in tax instead of leaving much of its profits in Ireland.
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“If you aren’t contributing by paying your fair share of taxes, you aren’t corporately responsible," said Stiglitz. "Some companies get a lot of attention, like Apple. You have to ask: are they sincere?”
BERNIE SANDERS' INCOME INEQUALITY TAX WOULD COST APPLE $1.4B
Stiglitz says the first step to being a good corporate citizen is to pay tax, something Apple has been criticized about.
Stiglitz also said Apple uses Donald Trump’s tax holiday to avoid paying tens of billions of US taxes.
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Tim Cook went on record this week with his stance on the need for global corporate tax reform.