Apple Decided to Withdraw Overseas Funds for One-time Tax Payment
Apple announced that it will build a second park in the United States as part of its five-year plan to invest 30 billion U.S. dollars in the United States. In addition, a more important message is that Apple will remit overseas profits back to the United States and Apple plans to pay about 38 billion US dollars one-time tax. It is generally believed that 38 billion U.S. dollars may be the largest amount of such taxes in history and that Apple's approach has a demonstration role. The market believes that Apple, which claims to be America's largest tax-paying company, is also one of the biggest beneficiaries of the tax cuts passed by the U.S. Congress in December last year. The company pointed out that in the next five years Apple is expected to contribute 350 billion U.S. dollars to the U.S. economy. Apple said it will create 20,000 job opportunities through hires from existing park and the new park. Apple will announce the location of the second campus later this year. Apple CEO Tim Cook said: "Apple is a success story that could only happen in the United States and we are honored to continue development on the basis of long-standing support to the U.S. economy." Cook's words have been quite different from what he said when Trump just took office.