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Should Companies Retain "Strategic" Cash?

Harvard Business Review

As long as the CFO can stipulate that the company does not intend to repatriate the cash, it avoids the incremental tax that will be levied due to the territorial system of U.S. Barring a tax holiday, this cash is effectively "trapped" offshore. Much of the strategic cash is typically held outside the United States.

Company 13
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The Conversation We Should Be Having About Corporate Taxes

Harvard Business Review

We have some of our largest and most innovative companies doing this. When I’m talking to corporate CEOs, CFOs, and board members, I don’t see the major multinationals planning to bring that cash back to the United States. I was with the CFO of Apple the other day, and they’ve got $140 billion of cash trapped overseas.