2023 Author: Gordon Kinson | [email protected]. Last modified: 2023-05-24 11:09
As previously reported, the buyback by Apple of its own shares will be financed not from the corporation's existing financial reserves (and they, we recall, amount to at least $ 145 billion), but through the sale of IOUs.
This option could save companies up to $ 9.2 billion in United States tax payments.
It is known that the amount of funds that are planned to be spent on the buyback of shares is at least $ 55 billion, and only part of this amount will be provided with IOUs. Moody's vice president Gerald Granovsky estimates that Apple will pay just $ 308 million a year in interest for the $ 17 billion bond.
Even with such a trick to avoid paying taxes by avoiding transferring funds to the United States, Apple remains one of the largest corporate taxpayers in the United States. In 2012, the company paid $ 6 billion in income taxes to the state treasury, or 2.5 percent of total U. S. tax revenues. At the same time, such tax payments did not become particularly burdensome for Apple: for comparison, net profit for the first calendar quarter of 2013, which was recognized as not the most successful period for the company, amounted to $ 9.5 billion.
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