The companies, along with Google and Cisco, own a collected $124 billion in US Treasury debt offshore, allowing them to collect tax-free interest. March 13, 2014 9:12 AM PDT Four of the largest US-based technology companies hold a huge amount of US Treasury debt and use to earn tax-free interest, a new report claims. Apple, Microsoft, Google, and Cisco collectively hold $124 billion in US Treasury debt overseas, the UK's Bureau of Investigative Journalism reported on Wednesday. The debt is kept off-shore so the company can earn interest on the treasuries without worrying about paying taxes. That some of the largest technology companies in the world are holding so much interest-bearing debt and not having to pay taxes might not resonate well with individuals looking down the barrel at an April 15 personal income tax filing date and big tax bill. Still, the companies are acting well within US law, so they're not violating any regulations. (Via Reuters)
The companies, along with Google and Cisco, own a collected $124 billion in US Treasury debt offshore, allowing them to collect tax-free interest.
Four of the largest US-based technology companies hold a huge amount of US Treasury debt and use to earn tax-free interest, a new report claims.
Apple, Microsoft, Google, and Cisco collectively hold $124 billion in US Treasury debt overseas, the UK's Bureau of Investigative Journalism reported on Wednesday. The debt is kept off-shore so the company can earn interest on the treasuries without worrying about paying taxes.
That some of the largest technology companies in the world are holding so much interest-bearing debt and not having to pay taxes might not resonate well with individuals looking down the barrel at an April 15 personal income tax filing date and big tax bill. Still, the companies are acting well within US law, so they're not violating any regulations.
(Via Reuters)
