Apple to Pay $38 Billion in Taxes for Offshore Cash, Invest $350 Billion into US Economy
Apple has announced planned investment of $350 billion that will indirectly create more than 2 million jobs over the next 5 years in the United States. At Apple, more than 20,000 jobs will be created including a new campus. Part of these planned capital investments will be funded by Apples’ offshore cash which will be repatriated, that will trigger an approximate tax payment of $38 billion.
” Apple to Invest $350 Billion into US Economy, to Hire more than 20,000 People “
Apple is one of the first major US corporation to take advantage of the new tax system to promote US domestic economic growth. Cash are taxed at 15.5% while non-cash or less liquid assets will be taxed at 8%. Apple has more than $200 billion of cash reserves offshore.
About Apple Inc
Apple Inc., incorporated on January 3, 1977, designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players. The Company sells a range of related software, services, accessories, networking solutions and third-party digital content and applications. The Company’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.
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