I'm rolling on the floor laughing my ass off on that "exposé' by a super liberal socialist anti capitalist unthinktank. Here's what their research claims Apple is "hiding":
Apple is currently on the top of Oxfam’s list. Oxfam believes Apple is holding $181 billion offshore in three subsidiaries.
The deep research in 2015 MISSED about $30 Billion. . . and Apple is hiding nothing. Apple reports it's off shore cash and short term holdings every quarter in the quarterly public financial conference call, and also in their publicly filed with the Federal Exchange Commission quarterly form 10-Q. I say that the Oxfam's ace researchers missed $30 Billion in Apple's "hidden" off-shore assets because had they just bothered to READ THE F'N 10-Q, they would have learned that Apple's off-shore accumulated assets the quarter before they released their hyperbolic report was over $212 Billion, all of which Apple had already paid its US and foreign Income Taxes on. . . and they'd have learned that Apple's effective tax rate on its gross profit was 28.3% that quarter. . . including the tax credits, set asides, etc, they claim far out weighed the actual taxes paid, which is a pile of steaming bovine excrement.
The Panama Papers it turns out indict very few American companies, but lots of foreign ones. Nice try. As I stated, Apple's audited books and publicly filed reports account for every dollar, and tell where those ALREADY TAXED dollars are.
Did you not bother to read the FACTS I posted above before you googled and linked to an article on a report from a known anticapitalist, socialist lying organization dedicated to overthrowing our economy? Apparently not. The so-called Panama .
By-the-way, at the last conference call, Apple’s chief financial office (CFO) proudly announced those holdings were now over $260 BILLION. He also stated that Apple would love to bring that money to the United States but the US is one of only two nations in the world that taxes money earned off shore both when it’s earned AND when it crosses our border. . . and that is taxed at a rate of 35%. The other country with such an idiotic tax law is a dictatorial, land-locked African nation with no multinational companies headquartered within its borders. At least, their tax rate is lower. That law alone is why the money isn’t here already.