Why Cisco Is Bringing $67 Billion Back to the States
A new US tax law was passed in late 2017, reducing the corporate tax rate from a lofty 35% to 21%, and encouraging American companies to repatriate profits at a 15.5% tax. Future profits will not be subject to repatriation tax. This news is particularly good for tech giants that were hoarding huge amounts of cash abroad to avoid being taxed 35% on repatriation.