Apple could see as much as $47 billion shaved off its US tax bill under current Republican proposals, making it the largest beneficiary of the tax plan, Fortune reports.
The Senate and House still have to reconcile their different versions of the tax bill to send it to President Donald Trump for signing, but the two chambers seem mostly in agreement that the $1.3 trillion that American companies are keeping offshore should be taxed at no more than 14.5 percent — a much lower rate than the current 35 percent rate for money brought home from overseas by corporations.
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