(FILES) This file photo taken on December 28, 2016 shows logos of US multinational technology company Apple in Vertou, western France. The 50 largest US companies, including Apple, Microsoft and Wal-Mart, are parking about $1.6 trillion in offshore tax havens to reduce their US tax burden, according to a study published on April 12, 2017. Apple is at the top of the ranking with more than $200 billion in offshore funds, followed closely by Pfizer laboratories ($193.6 billion) and Microsoft's IT group ($124 billion), the report said. US law allows companies to keep profits from foreign operations offshore indefinitely, to avoid corporate taxes that are among the highest in the industrialized world. / AFP PHOTO / LOIC VENANCE
WASHINGTON: It is a sign of Apple’s success but also a thorny problem: its cash stockpile has hit a staggering US$256.8bil (RM1.11tril), sparking debate on what do with such massive reserves.
Apple’s quarterly report showed its cash holdings – the vast majority held overseas – jumped to a sum that tops the entire economic output of Chile.
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