A possible quirk of the recent U.S. tax law change could net Apple an extra $4.1 billion, claims a new report.
A timing loophole in the tax overhaul that enables repatriation of companies’ overseas cash piles, means businesses whose fiscal years don’t follow the calendar year will get an extra one-off tax break. This includes Apple, whose tax year starts in October, but excludes Alphabet, whose fiscal year begins January 1.