Apple could face huge tax bill as Obama calls for new taxes on offshore profits in FY2016 budget

President Obama on Monday put forward a new budget that includes a one-time 14 percent levy on earnings held by U.S. companies overseas --?funds which would be allocated to a $478 billion public works plan --?followed by an ongoing 19 percent tax on foreign profits, whether the money is repatriated or not.













From AppleInsider - Frontpage News