Cat to Face Tax Investigation

March 21, 2014

Sources say a U.S. Senate panel is investigating whether Caterpillar illegally evaded U.S. taxes, according to a Bloomberg report.

Two anonymous sources familiar with the case say the Senate’s Permanent Subcommittee on Investigations will hold a hearing in April to determine whether the company moved profits outside the country to avoid paying U.S. taxes. Caterpillar and Senate spokespeople declined to comment on the matter.

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Source: Bloomberg