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Trillion US dollars repatriated due to US tax reform

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Trillion US dollars repatriated due to US tax reform
September 23
13:00 2019

The US Department of Commerce reports that after the tax system reform last year, companies have repatriated about a trillion US dollars to their homeland.

For the second quarter of this year, the USA has returned more than $ 88 billion of revenue received outside the country.

When President Trump promoted this reform, he promised that it would return about four trillion US dollars to the economy. Experts and banks had a different opinion regarding the estimate of the amount of funds stored abroad. Their forecasts featured figures of 1.5-2 trillion US dollars.

The report of the Ministry of Commerce says that the pace of money return from abroad is falling. In the last quarter of 2018, more than $ 146 billion was repatriated. The first quarter of 2019 showed the figure of only $ 96 billion.

American companies have for a long time avoided the repatriation of profits due to high taxes. In 2018, the situation changed. As part of the reform, the tax was reduced to 15.5% on cash and to 8% on other assets.

In 2017 (before the tax reform was adopted) the annual volume of repatriations did not exceed 155 billion US dollars.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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