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> Not just that. Once the income has been taxed outside the US, it can no longer be taxed by the US. Just to clarify, money that is taxed outside the US gives
by nodamage 10y ago
> Not just that. Once the income has been taxed outside the US, it can no longer be taxed by the US.
Just to clarify, money that is taxed outside the US gives you a credit towards your US taxes. So if the money is taxed at 2% in Ireland, and then repatriated into the US, they would still be taxed on the difference between the 35% US corporate tax rate and the 2% they've already paid. Now if Apple has to pay Ireland 12.5% instead of the 2% it's paying now, the US would still get the remaining 22.5%.