New York: The technology company Apple is one of the world’s richest companies, but instead of having $ 178 billion capital the company is bound to take loans.
What is the secret behind this choice? It’s actually very simple and it has a habit of tax evading.
Last week the company announced that its latest quarterly profit was $ 18 billion.
The company currently has 178 billion dollars in cash, but still on Monday the company has issued bonds of $ 6.5 billion and has arranged a new loan.
Why such a rich company had to borrow? Its answer is that the company does not want to pay billions of dollars for tax and for this it has arranged this. The company’s billions of dollars are in different countries outside the US and bringing them back will impose approximately 35% tax on them which is a worth of billions. The loan of 6.5 billion dollar, taken by apple, will be used to purchase stock and making interest payments.