Apple boss Tim Cook was featured in an interview with journalist Charlie Rose in "60 Minutes," in which he negated the accusation that the company is avoiding taxes on its overseas revenues.
He called the notion as merely "political crap."
When Rose reminded Cook that some are convinced that Apple "is engaged in a sophisticated scheme to pay little or no corporate taxes on $74 billion revenue held overseas," Cook appeared agitated.
"That is total political crap," responded Cook. "There is no truth behind it."
The CEO highlighted that his company is paying taxes and even said that Apple is paying "more taxes in this country than anyone."
The company, just like any other U.S. multinational corporations, is also keeping its overseas revenue in its foreign subsidiaries.
Cook explained that this move is a sensible thing to do. He went on to say that if the company decides to bring its money home, it would cost Apple 40 percent in taxes.
"This is a tax code that was made for the industrial age, not the digital age," said the Apple's CEO. "It's backwards. It's awful to America."
Cook believes that this should have been fixed a few years back.
The Apple CEO also tackled a slew of other issues involving the company, including the manufacturing products in China and encryption technology.
The episode, which was aired via CBS on Dec. 20 at 7:30 p.m. Eastern Time and 7 p.m. Pacific Time, also featured the "secret design studio" of Jonathan Ives. It allowed cameras within his studio to get a glimpse at how the hotly popular iPhone and iPad gave birth.
In the meantime, earlier this month, it has been rumored that Apple is currently working on holographic screens in a secret laboratory located in Taiwan. These holographs are believed to be perceptible to human eyes without having to wear special glasses.
The company is also said to have hired 50 engineers along with other working who are focusing on the new display technologies which Apple could be adding into its iDevices.
