Apple to pay $38 billion tax bill on overseas cash

Apple to pay $38 bn tax on overseas cash
Apple to pay $38 bn tax on overseas cash
By Euronews
Share this articleComments
Share this articleClose Button
Copy/paste the article video embed link below:Copy to clipboardCopied

Tech giant says it will also open a new campus as part of a multi-billion dollar US investment plan


American tech giant Apple is to repatriate some of its vast overseas cash and make a one-time tax payment on it of $38 billion dollars.

The company said it would also open a new campus in the US as part of 5-year $30 billion dollar investment plan, creating 20,000 new jobs.

While Apple has been criticised in Europe over its tax policies, in the US it's been under increasing pressure to make home investments. Since the 2016 presidential campaign, Trump has targeted the iPhone maker for making its products overseas.

Apple is the latest company to announce a one-off payment as a result of recent changes to US tax law.

They allow companies to pay a levy of 15.5% on overseas cash holdings that are repatriated to the US.

Share this articleComments

You might also like

Investors get slice of Apple's pie

Danish pharmaceutical invests €2.1 billion in France

Germany pledges to invest €4 billion in green energy projects in Africa