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- Cisco Systems has unveiled a plan to bring $67 billion that it holds overseas back to the United States this year by taking advantage of the recent rewrite of the tax code.
The repatriation is planned for the company’s third fiscal quarter, Cisco said on Wednesday while reporting its second-quarter earnings.
Other companies have presented similar plans to repatriate foreign cash holdings. In January, Apple announced plans to bring the vast majority of its $252 billion in cash held abroad back to the United States, paying a tax of $38 billion.
johnnyFive · 2260 days ago · link ·
Just in time for the massive cuts in social spending.