Caterpillar is in dock over alleged tax evasion

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Caterpillar is in dock over alleged tax evasion By TII News Service Apr 01, 2014 , Washington
THE Chairman of the Senate Permanent Subcommittee on Investigations, Mr Carl Levin, yesterday revealed that the US Major Caterpillar avoided tax payments of USD 2.4 bn between 2000 and 2012 by shifting USD 8 bn to a tax haven in Switzerland. The Committee has also been looking into complicated tax planning by HP, Apple and Microsoft. It is also reported that a good number of former tax executives from Caterpillar and PwC are scheduled to appear before the sub-committee today.

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