Financial Times – Republicans shift gaze to US groups’ $1tn in offshore cash

There is a consensus by both Republicans and Democrats that the right way to proceed is with a one-time “deemed repatriation. ” However, the increasingly partisan environment may prevent even such bipartisan measures from proceeding.

July 19, 2017

‘Corporate cash piles are increasingly concentrated at a few dozen big companies, making them big potential winners if there is a generous tax break for repatriation as Republicans shift their gaze away from healthcare.

As of end-2016, roughly $1tn of cash was held overseas by 50 US companies, with Apple, Microsoft, Google-owner Alphabet, Cisco and Oracle accounting for $512bn of the figure, according to rating agency Moody’s.’

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