Apple to pay US$38bn in foreign revenue taxes

Having earned more than 250 billion USD from its overseas products and services, Apple did not intend plan to repatriate the profits to the US in order to avoid taxes of 35%.

However, the tech giant changed its strategy after a tax cut signed by President Donald Trump lowered taxes on profits from overseas investments to 15%.

As planned, Apple Inc will open a new campus as part of a five-year, $30 billion US investment plan, which is expected to create 20,000 jobs and earn the US economy 350 billion USD.