"Apple holds more than $200bn offshore, and was last year accused of tax avoidance by the European commission and ordered to pay €13bn (£11bn) in back taxes."
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"Sets a one-time mandatory tax of 8% on illiquid assets and 15.5% on cash and cash equivalents for about $2.6tn in US business profits now held overseas.
This foreign cash pile was created by a rule making foreign profits tax-deferred if they are not brought into the United States, or repatriated."
https://www.theguardian.com/us-news/2017/dec/19/trump-tax-plan-whats-in-the-final-bill
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apple
google
microsoft
facebook
Trump Tower 2016 collusion.
none of them knew, nope. not them, the NSA, or Mike Mukasey, or Obama.
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"Donald Trump’s plan to encourage US companies to repatriate profits held offshore will allow the 50 biggest American corporations to save at least $300bn (£240bn), according to research by Oxfam.
Oxfam’s research suggested that Apple would save $43.5bn in tax by taking advantage of Trump’s one-off 10% repatriation tax.
Other companies sitting on vast fortunes parked offshore include the drugs maker Pfizer, with $193bn, Microsoft, with $124bn, and GM, with $104bn.
The Oxfam research suggested that the 50 biggest US companies could collectively save between $312 and $327bn by bringing back their offshore cash piles under Trump’s tax holiday."
https://www.theguardian.com/business/2017/apr/12/trump-tax-holiday-us-companies-apple-oxfam-tax
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