Apple says will pay $38 bn in taxes on repatriated profits
iPhone
San Francisco - Egypt Today
Apple announced Wednesday it would pay some $38 billion in taxes -- likely the largest payment of its kind -- on profits repatriated from overseas as it boosts investments in the United States.
The iPhone maker said in a statement it plans to use some of its foreign cash stockpile of more than $250 billion, which qualifies for reduced tax rates under a recent bill, to invest in new projects, with estimated investments of $75 billion in the US.
Source:AFP
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