Cat- bulldozing the U.S. Taxpayers

Report: Caterpillar avoided $2.4B in U.S. taxes: "Construction machinery giant Caterpillar avoided $2.4 billion in U.S. taxes by negotiating a corporate deal with Switzerland and shifting profits to a wholly owned Swiss subsidiary, according to a Senate report issued Monday.

The Peoria, Ill.-based company eased the tax bite through an agreement that transferred its international parts-distribution division to the subsidiary, the report by the staff of the Democratic majority of the Senate Permanent Subcommittee on Investigations showed.

Despite the $8 billion profit shift, no Caterpillar personnel or business activities moved from the U.S. to Switzerland, and most of the firm's parts business remains in the U.S., said the report, issued as Americans prepare for the annual April 15 tax-filing deadline."



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