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Apple’s Calls for Repatriation Tax Holiday Gain No Traction with White House http://inthenews.springhillgroupcounselling.com/2012/03/21/apples-calls-for-repatriation-tax-holiday-gain-no-traction-with-white-house/ /nWith some two-thirds of its cash hoard housed overseas, Apple would like a tax holiday to allow it to move that money back to the U.S., but its pleas have fallen on deaf ears at the White House./nWith $64 billion in cash remaining offshore, Apple executives said during a conference call on Monday that they have no plans to bring that money back to the U.S. because of taxes. For some time now, Apple has lobbied the U.S. government for a tax holiday that would give the company an incentive to bring that money stateside./n“Repatriating the cash would result in significant tax penalties,” Apple Chief Financial Officer Peter Oppenheimer said. “The tax laws currently allow for a significant disincentive. We’ve expressed our views to Congress and the White House.”

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