Apple CEO Tim Cook, center, flanked by Apple chief financial officer Peter Oppenheimer, left, and Phillip A. Bullock, Apple's head of Tax Operations, testifies on Capitol Hill in Washin

 

              Apple CEO Tim Cook, center, flanked by Apple chief financial officer Peter Oppenheimer, left, and Phillip A. Bullock, Apple
Apple CEO Tim Cook, center, flanked by Apple chief financial officer Peter Oppenheimer, left, and Phillip A. Bullock, Apple's head of Tax Operations, testifies on Capitol Hill in Washington, Tuesday, May 21, 2013, before the Senate Homeland Security and Governmental Affairs Permanent subcommittee on Investigations hearing to examine the methods employed by multinational corporations to shift profits offshore and how such activities are affected by the Internal Revenue Code. Apple, the world's most valuable company, based in Cupertino, Calif., holds a billion dollars in an Irish subsidiary as a tax strategy, according to a report issued this week by the subcommittee. (AP Photo/J. Scott Applewhite)