These days a piece of news has been made public that undoubtedly favors the interests of large companies, among which is Apple. China has shared that it will offer a new temporary tax exemption for foreign companies that make investments in the Asian country.
The news, announced a week after the meeting held to review US taxes, it must first be approved by the Chinese national council.
El New York Times announced the intention of the Chinese government, which bases its proposal on this new tax exemption for certain foreign companies that meet a series of requirements and that these will be limited in time, with retroactive application from January 1, 2017.
In order to benefit from this new measure, companies like Apple will have to reinvest capital in sectors such as technology, rail, agriculture and mining.
As stated by the Chinese Ministry of Finance:
«The idea of this initiative is to promote the growth of foreign investment, improve the quality of said investment and encourage external investors to continuously expand their presence in the country. "
After this news, Apple is estimated to reinvest around $ 214 million at this exceptional tax rate, thus benefiting from Asian regulations to expand its presence and investments there.
This opportunity that is presented now for large companies such as Apple and other large technology companies, contrasts with local American law, which advocates investments by national companies in the country, one of the star measures implemented by the government of President-elect Donald Trump. This, without a doubt, could lead to problems in Cupertino with the justice, such as the well-known case of tax evasion that Apple has carried out for almost a decade in Ireland and the rest of Europe.
