Apple to pay $38 billion in taxes on overseas cash holdings

The company will invest over $350 billion in the U.S. over the next five years.
1:33 | 01/18/18

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Transcript for Apple to pay $38 billion in taxes on overseas cash holdings
How much money do you think you will be saving under the new tax policy in the old system. You could. Leave your overseas earnings outside the United States. And defer paying any taxes. And so what the vast majority of companies did. Was because they didn't want to pay 40% in taxes. They kept that money outside the U us rather than deployed in the country. We thought this was never good for the United States. Because. It motivates people to invest elsewhere instead of in the country. And so we've always advocated for this no matter which administration is. Is is in the in the White House or where where the congress' an important time. And and so we're actually going to be pain. 38 billion that we would not have paid under the old system in the short tar. Or you have for that money will actually be paying more. Is it safe to say though that at least beyond this year. Apple will be saving potentially tens of billions of dollars on tap now it's Clinton's ability we don't we don't make a much in the United States. And and yours overstating because. But that we will be paying lives. And and you know that's one reason or we can make these ongoing investments. In. Investor 350 billion in the united stats.

This transcript has been automatically generated and may not be 100% accurate.

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