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Indeed, some of it is in banks in tax havens such as Ireland and Singapore. They are also in the form of US treasury bills bought through their offshore entitie
by vishnugupta 6y ago
Indeed, some of it is in banks in tax havens such as Ireland and Singapore. They are also in the form of US treasury bills bought through their offshore entities in the same havens. So I guess at least some money does make it back to the US ;-)
- nwellnhof 6y agoThe cash (or other short-term investments) could even be held in US bank accounts owned by non-US subsidiaries of Apple.
- vishnugupta 6y agoFor sure! With this offshore thingy one could create a mind bending structure to trap tax authorities in an infinite loop trying to trace the origin. I was completely ignorant about this menace until I started reading couple of books to educate myself —- Treasure Islands and Moneyland...recommend them both. Since then I just use the term offshore to encompass any of those hundreds or so possible structures.