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This story just keeps getting better. You know how Apple, along with every other US multinational that doesn't like paying 35% US company tax, has a colossal cash stash which it claims it will one day repatriate to the US (but only when they lower the tax rate!! i.e. never) :

Well, it turns out that...

Apple boss expects to repatriate billions to the US next year | Business | The Guardian

Apple boss Tim Cook expects the iPhone maker to repatriate huge offshore profits to America next year, paying billions of dollars in deferred taxes to the US Treasury.

In an interview with RTE radio, he gave a summary of the company's 2014 tax affairs, saying: "We paid $400m [in tax] to Ireland, we paid $400m to the US. And we provisioned several billion for the US for payment as soon as we repatriated.

"Right now I would forecast that we repatriate next year. So it is not true that we would pay just $400m, or even just $800m, the number is materially larger."

The revelation that Apple plans to repatriate some of its offshore profits and pay its huge US tax bills next year comes as a surprise given Cook's previous refusal to countenance such a move.

If he's sincere, this rather belated pre-emptive move would certainly take the wind out of the sails of US treasury and its incipient tax war of the EU... On the contrary, they should be thanking the EU for provoking a shift in their apparently insoluble struggle with the tax-deferment scam.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Sep 1st, 2016 at 09:45:05 PM EST

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