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I kind of agree, but feel a need to point out that the "absurd cash piles" are a byproduct of tax rules, not of (alleged) timidity on the part of Cook et al.
by al452 9y ago
I kind of agree, but feel a need to point out that the "absurd cash piles" are a byproduct of tax rules, not of (alleged) timidity on the part of Cook et al.
- hsitz 9y agoWhat tax rule are you talking about? The cash in the "absurd pile" has already been taxed as income.
- deleted 9y ago[deleted]
- downrightmike 9y agoUS corp taxes in general
- wahern 9y agoIt's a stretch to say that it's a byproduct of tax rules. It's more a product of avoiding taxes, period. Apple could repatriate its overseas profits at any time. It would have to pay taxes on those profits, yes, but that would be no different than their domestic profits. Apple would be able to deduct foreign taxes, including foreign VAT payments[1], which would put their foreign profits in parity with their domestic profits in terms of tax burden. [1] Unlike foreign income you can't take a credit on VAT payments. But VAT payments are deductible like any other business expense. Because corporations are taxed at a fixed percentage (no progressive income brackets), it's a distinction without a difference.