AFP, Washington :
It is a sign of Apple’s success but also a thorny problem: its cash stockpile has hit a staggering $256.8 billion, sparking debate on what do with such massive reserves.
Apple’s quarterly report Tuesday showed its cash holdings-the vast majority held overseas-jumped to a sum that tops the entire economic output of Chile.
The tech giant has resisted the idea of bringing the cash home, because of disincentives in the US tax code-it allows multinational firms to defer profits while they are held overseas but taxes income at up to 35 percent when repatriated.
Proposals by President Donald Trump and lawmakers could lower the tax rate for repatriated earnings.
It is a sign of Apple’s success but also a thorny problem: its cash stockpile has hit a staggering $256.8 billion, sparking debate on what do with such massive reserves.
Apple’s quarterly report Tuesday showed its cash holdings-the vast majority held overseas-jumped to a sum that tops the entire economic output of Chile.
The tech giant has resisted the idea of bringing the cash home, because of disincentives in the US tax code-it allows multinational firms to defer profits while they are held overseas but taxes income at up to 35 percent when repatriated.
Proposals by President Donald Trump and lawmakers could lower the tax rate for repatriated earnings.
