US tax bill passes, allowing Apple to repatriate its $252B foreign cash, but there’s a catch …
Congress finally passed the Republican tax overhaul, which would make it affordable for Apple to repatriate the $252.3B cash it currently holds overseas. Apple would be able to take advantage of a one-time tax break, paying just 15.5% tax on the cash, rather than the 35% it would have had to pay previously.
If Apple chose to bring all of the cash back to the US, it would pay $39.1B in tax. And this would be practical because the company has already set aside $36.3B – almost the entire amount – for exactly that eventuality. But there’s one catch …
from 9to5Mac http://bit.ly/2COh2sP
via IOSCUBE
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