An interesting stat regarding Apple, Microsoft and Google

[Tsepz]

The funny part about things like this is that there are idiots here and in other forums who will then claim Google or Samsung is evil and that their favoured Tech company does no bad, LOL.

I've seen it so many times around here, especially when it comes to Google and Samsung.

Truth is all companies want to maximise their profits and save as much cash as possible for "just in case", as with the world we live in, you never know what tomorrow brings.

 

[kdarling]

Those numbers are out of date. Apple has close to $250 billion in the name of its overseas shell companies right now.

If they repatriated that money, they'd get credit dollar for dollar for any taxes paid to other countries.

But what many ignore, is the fact that Apple has cleverly avoiding paying taxes in almost EVERY country they sell in. Which is why the EU is unhappy with Apple and Ireland, and why Apple has few tax credits to use. It's also why it's incorrect to say that they'd be getting double taxed on everything. They never really got taxed in the first place!

Luckily for Apple, it looks like Trump might push a cheap repatriation tax break. Although, the last time this was done, the money simply went into the pockets of investors, and many jobs were cut anyway. So much for corporate promises.

 

[Lloydbm41]

Those numbers are out of date. Apple has close to $250 billion in the name of its overseas shell companies right now.

If they repatriated that money, they'd get credit dollar for dollar for any taxes paid to other countries.

But what many ignore, is the fact that Apple has cleverly avoiding paying taxes in almost EVERY country they sell in. Which is why the EU is unhappy with Apple and Ireland, and why Apple has few tax credits to use. It's also why it's incorrect to say that they'd be getting double taxed on everything. They never really got taxed in the first place!

Luckily for Apple, it looks like Trump might push a cheap repatriation tax break. Although, the last time this was done, the money simply went into the pockets of investors, and many jobs were cut anyway. So much for corporate promises.

You do realize the OP is dated Aug of 2014?

 

[kdarling]

You do realize the OP is dated Aug of 2014?

Ha! Thanks! Usually I notice zombie threads, but didn't this time. Mea culpa.

Comments still apply.

 

[apolloa]

We all know that US companies keep profits off shore so they don't have to pay the 35% corporate tax rate. What I didn't know was how much cash was kept in foreign banks and how much money these companies save.

Here are a few companies that are keeping more than $35 billion offshore as of their most recent filings:

Apple (AAPL, Tech30): $111.3 billion
General Electric (GE): $110 billion
Microsoft (MSFT, Tech30): $92.9 billion
Pfizer (PFE): $69 billion
Merck (MKGAF): $57.1 billion
IBM (IBM, Tech30): $52.3 billion
Johnson & Johnson (JNJ): $50.9 billion
Google (GOOG, Tech30): $38.9 billion

Google saves nearly $14 billion per year, Microsoft saves itself $27 billion a year and Apple saves nearly $40 billion from US taxes.

Merck is a German company.