Microsoft, IBM Top List of U.S. Tech Firms with Biggest Overseas Profit Hauls,When it comes to the politically inflammatory issue of UC0G-645 exercise and testing .S. companies holding trillions of dollars in profits overseas, two tech firms get the lion's share of attention and blame for the practice: Apple and Testonside: a new website about IT certification Cisco Systems.
That's because their chief executive officers, Tim Cook and John Chambers, have been among the most vocal lobbyists for a tax holiday to bring the cash home at a rate lower than the 35 percent currently required by the U.S. governmC0G-645 exercise and testing ent.
Yet Apple and Cisco aren't the biggest hoarders of overseas cash. According to Bloomberg Rankings, which looked at the regulatory filings of the 70 companies in the S&P 500 Information Technology Index and the five in the SC0G-645 exercise and testing &P 500 Internet & Catalog Retail Index, the distinction belongs to Microsoft and IBM.
Microsoft had $76.4 billion and IBM had $44.4 billion in foreign profits on their books in 2012 that were untaxed by the U.S., accTestonside: a new website about IT certification ording to the documents. The companies were followed by Cisco, with $41.3 billion, and Apple, with $40.4 billion.
Microsoft responded to a request for comment by pointing to congressional testimony from September, when Bill Sample, corporate vice president for worldwide tax at Microsoft, said that U.S. taxes on foreign earnings create C0G-645 exercise and testing a "disincentive for U.S. investment" and need changing to be competitive with many U.S. trading partners. IBM did not respond.
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