In addition to the $38 billion in taxes it must pay, Apple has run up $97 billion in U.S.-issued debt to pay for previous share buybacks and dividends. “I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Asked in an interview with ABC News whether the job creation announcements were directly related to the Republican tax plan, Apple Chief Executive Officer Tim Cook gave a measured response. Apple had set aside $36.3 billion in anticipation of tax payments on its foreign cash, meaning the payment would not represent a major impact on its cash flow this quarter. Apple said it planned to spend $55 billion with U.S.-based suppliers in 2018, up from $50 billion last year.

Source: bd News24 January 18, 2018 03:56 UTC