U. S. Agents Raid Caterpillar Over Offshore Tax Practices -

RisingWorld 2017-03-03

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U. S. Agents Raid Caterpillar Over Offshore Tax Practices -
By HIROKO TABUCHIMARCH 2, 2017
Federal agents raided three Caterpillar buildings near its Illinois headquarters on Thursday, company
and law enforcement officials said, in an escalation of an inquiry into the heavy equipment manufacturer’s offshore tax practices.
The scrutiny of Caterpillar’s offshore tax practices occurred after a series of Senate hearings sought to showcase how large companies — mostly technology businesses like Microsoft, Hewlett-Packard
and Apple — had used complex maneuvers to avoid paying United States taxes.
The United States attorney’s office for the Central District of Illinois, the Internal Revenue Service criminal investigation division,
and two other agencies led the search of Caterpillar buildings near Peoria, Ill., where Caterpillar is based, said Sharon Paul, a spokeswoman for the United States attorney.
Caterpillar has said its effective United States tax rate was 29 percent.
The Trump administration has signaled that it would try to address the use of offshore tax havens
as part of wider corporate tax reforms, rather than focus on going after individual companies.

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