advertisement
advertisement

Trump’s presidency could bring a tax windfall to Apple worth tens of billions

Is everyone misreading Tim Cook’s negative-looking facial expressions during his meeting with Donald Trump last week? Those expressions generated a lot of memes, but they may be off the mark. As Reuters notes, experts say Trump’s White House victory likely means Apple and other large U.S. corporations might get a huge tax break on $2.6 trillion in foreign profits currently held overseas. Of that $2.6 trillion, Apple has the largest share with over $200 billion stored offshore. If Trump goes through with his plan of only taxing offshore holdings 10% if a company repatriates the money, Apple could stand to save tens of billions of dollars.MG