4 ms·
> Apple has a whole bunch of money sitting overseas that it has not paid taxes on. To clarify: they haven't paid US taxes on it. They've paid whatever taxes ar
by eridius 10y ago
> Apple has a whole bunch of money sitting overseas that it has not paid taxes on.
To clarify: they haven't paid US taxes on it. They've paid whatever taxes are levied by the foreign countries they're operating in, but the US also double-taxes that same money if it's brought back into the US.
- kilotaras 10y agoI may be wrong but my understanding is US taxes the difference between foreign and domestic tax rates.
- DanielBMarkham 10y agoAlso once they pay tax (again) on it to get it into the U.S., it gets taxed a third time if they distribute it to the shareholders.