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Trump hails Apple bid to repatriate overseas cash

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7 years ago

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Washington, Jan 18 (IANS) US President Donald Trump on Thursday hailed Apple’s announcement to repatriate overseas cash as part of a plan to inject $350 billion into the US economy over the next five years.

“I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA!” Trump wrote on Twitter.

Earlier, Apple had announced that it will repatriate a good part of its overseas cash, if not all, as part of a series of measures to inject $350 billion in the American economy over the next five years, Efe news agency reported.

In the announcement, which took the markets by surprise, the company revealed its investment plans and which also includes its promise to create 20,000 new jobs in the US in the next five years.

Of special note in the statement is the information that Apple will pay approximately $38 billion in tax payments upon repatriation of overseas profits from throughout the world.

“A payment of that size would likely be the largest of its kind ever made,” the tech giant said in the statement.

That repatriation comes in response to changes to the tax law, approved at the end of 2017, which aim, among other measures, to persuade US companies to repatriate their capital by reducing tax burdens.

Under the new law, companies that make a one-time repatriation of cash will be taxed at a rate of 15.5 percent on cash holdings and 8 percent on non-liquid assets.

However, Apple’s statement does not reveal how much of its overseas cash the company is thinking of repatriating although media reports suggest it could be around $250 billion.

–IANS
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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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