Out Apple's massive $83 billion cash war chest, a whopping $54 billion are behind bars in offshore accounts.
In case that Apple wants to bring all that money from overseas in the US, it will have to part with $18.9 billion of those for the well-being of Uncle Sam.
Apple, along with Google and other corporate behemoths, has been lobbying for a while that the government introduces an offshore tax holiday, so it can repatriate its money back in the US, paying only 5%.
Government estimates have shown that about a trillion might be brought back this way, although similar exercises in the past have shown that the money doesn't actually show up in the economy, but rather the corporations sit tight on it, and grin with delight they avoided the 35% tax rate.
Daniel, a devoted tech writer at PhoneArena since 2010, has been engrossed in mobile technology since the Windows Mobile era. His expertise spans mobile hardware, software, and carrier networks, and he's keenly interested in the future of digital health, car connectivity, and 5G. Beyond his professional pursuits, Daniel finds balance in travel, reading, and exploring new tech innovations, while contemplating the ethical and privacy implications of our digital future.
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