Apple, Capitalizing on New Tax Law, Plans to Bring Billions in Cash Back to U.S.
- 6 years ago
Apple, Capitalizing on New Tax Law, Plans to Bring Billions in Cash Back to U.S.
The iPhone maker said on Wednesday that it planned a $350 billion contribution to the American economy over the next five years, with
some of its new investments coming from bringing back the vast majority of the $252 billion in cash that it has long held abroad.
SAN FRANCISCO — Less than four weeks after President Trump signed the most consequential tax legislation in three decades,
the world’s most valuable public company — Apple — laid out how it planned to capitalize on the new rules.
For years, Apple had said it wouldn’t bring its foreign earnings back to the United States until
there were changes in the corporate tax code, because such a move would be too costly
The iPhone maker said on Wednesday that it planned a $350 billion contribution to the American economy over the next five years, with
some of its new investments coming from bringing back the vast majority of the $252 billion in cash that it has long held abroad.
SAN FRANCISCO — Less than four weeks after President Trump signed the most consequential tax legislation in three decades,
the world’s most valuable public company — Apple — laid out how it planned to capitalize on the new rules.
For years, Apple had said it wouldn’t bring its foreign earnings back to the United States until
there were changes in the corporate tax code, because such a move would be too costly