Bloomberg: Apple Averts $9.2 Billion in Taxes with Debt Deal

by Staff Report 0

Bloomberg reports that Apple Inc. avoided approximately $9.2 billion in taxes by financing part of a $55 billion stock buyback with debt instead of offshore cash that would have been billed by the U.S. government, Moody’s Investment Services estimates. Gerald Granovsky, a senior vice president at Moody’s said that according to the current interest rates, Apple will shell out interest of about $308 million a year on the $17 billion bond offering.

Apple-logoBloomberg reports that Apple Inc. has avoided approximately $9.2 billion in taxes by financing part of a $55 billion stock buyback with debt instead of offshore cash that would have been billed by the U.S. government, Moody’s Investment Services estimates. Gerald Granovsky, SVP at Moody’s said that according to the current interest rates, Apple will pay interest of approximately $308 million a year on the $17 billion bond offering.  Read more

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