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>Apple with large cash reserves being held offshore should be dealt with individually. What evidence is there that the money Apple holds offshore was generated
by DINKDINK 11y ago
>Apple with large cash reserves being held offshore should be dealt with individually.
What evidence is there that the money Apple holds offshore was generated 'onshore'?
If it is the case that funds that Apple holds offshore were generated offshore, it's unreasonable that an entity should pay taxes on it. How much income tax do you pay to countries you don't live in?
- Gratsby 11y agoNone but anecdotal. I only used them as an example because they are frequently used as one, it was not any form of indictment.
- Infernal 11y ago> How much income tax do you pay to countries you don't live in? If you're a U.S. citizen living and working abroad, but spend 35 or more days in the U.S. in a given year, then the answer is - the same amount as if you lived and worked in the U.S. full-time. "If you’ve never lived abroad for an extended period of time, you probably don’t know the United States requires its citizens to continue to pay taxes back home. You are required to file taxes on foreign income even if you pay taxes in the host countries."[0] [0]https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/Filing-Taxes-While-Overseas/INF19130.html https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-T...
- DINKDINK 11y agoAn interesting tangent that I expected someone to bring up but not applicable to the scenario I illustrated: > How much income tax do you pay to _countries you don't live in?_
- Infernal 11y agoThat's my point... if you're a U.S. citizen, even if you don't live in the U.S., you still pay U.S. income tax. Edited to say, I agree with your larger point though. This situation is ridiculous, and income earned outside the U.S. should not be taxed by the U.S. gov't. in my opinion.