Apple, Microsoft, Google and Cisco have accumulated enormous amounts of money via interest payments from the U.S. government, according to a report from the UK’s Bureau of Investigative Journalism. The companies together hold $163 billion in U.S. government debt. Of that $163 billion, $124 billion is in U.S. Treasury securities, much of which is held offshore. Interest payments therefore go offshore — ergo, tax-free interest.
Loading ...
Report: US Tech Titans Making Bank From Offshore US Treasury Securities
Posted by: David Vranicar March 13, 2014 01:59 PMApple, Microsoft, Google and Cisco have accumulated enormous amounts of money via interest payments from the U.S. government, according to a report from the UK’s Bureau of Investigative Journalism. The companies together hold $163 billion in U.S. government debt. Of that $163 billion, $124 billion is in U.S. Treasury securities, much of which is held offshore. Interest payments therefore go offshore — ergo, tax-free interest.