Although I would argue that such “unrealized” profits would still count as being given overseas, since the money is not available to the european economy any more, no?
They just keep it parked in some kind of inflation proof financial construct until needed (at which point they might have to pay taxes on however much of it they need to withdraw, but still).
Well okay but where do the profits go? That’s right, overseas
Often not, no - it’s a big problem that these huge multinationals have is repatriating their foreign cash.
Apple used to have somewhere around 5x more cash in Ireland than they did in USA, because taxes.
Interesting, I hadn’t thought of that.
Although I would argue that such “unrealized” profits would still count as being given overseas, since the money is not available to the european economy any more, no?
They just keep it parked in some kind of inflation proof financial construct until needed (at which point they might have to pay taxes on however much of it they need to withdraw, but still).