As a point in case, Apple has shifted intellectual property rights like patents to its Irish subsidiaries. This also means that other divisions of Apple pay royalties to those subsidiaries for their sale.

Senate Levin also cited an example of Apple’s ‘golden goose’ to support this point.

 On the other hand Apple’s executives opposed that the main company had kept the rights for North and South America and that only royalties for overseas sales flew to the Irish subsidiaries and that Irish companies pay some for research and development based on its costs incurred at Apple’s headquarters in Cupertino, Calif.

Apple’s profits seem to show that it has more cash hidden overseas as compared to any other company; which is $ 102 billion.  

Cook asserted on the U.S. tax rate that with regards to Apple’s position, it has no intention bringing that cash back to U.S. Just like other firms, it has its task towards shareholders, to pay as little as possible in taxes.

The consequence is that Apple is holding out for a lower corporate tax rate and that Cook has spent some of his time to advocate for one along with a streamlining of the tax code to eliminate deductions and credits.

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