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Bloomberg: Senate digs into possible Caterpillar tax avoidance

  • A Senate panel is looking into whether Caterpillar (CAT) improperly dodged U.S. taxes, Bloomberg reports, with the Permanent Subcommittee on Investigations planning to hold hearings early next month.
  • The probe comes after a Caterpillar employee accused the company in 2009 of avoiding over $2B in U.S. taxes by using a "Swiss structure" to move profits to offshore companies. The firm would then return the money to America via a "Bermuda structure" that involved shell companies, again paying no tax.
Comments (3)
  • monkey see
    , contributor
    Comments (622) | Send Message
     
    CAT wasn't dodging taxes. They were merely taking a tax vacation but only at our expense!
    21 Mar 2014, 03:38 AM Reply Like
  • Iron Hamster
    , contributor
    Comments (423) | Send Message
     
    If they could legally do it, then they were looking out for their share holders, which they are legally required to do. It's not their fault that they can afford good accountants.
    21 Mar 2014, 06:05 AM Reply Like
  • SKINNY54
    , contributor
    Comment (1) | Send Message
     
    WOW!
    21 Mar 2014, 03:44 PM Reply Like
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