Executives for Caterpillar
Inc will defend the company's offshore tax strategies at a U.S. Senate hearing
on Tuesday held by a panel known for shedding light on corporate tax avoidance.
In a 99-page report released
on Monday, the Senate the Permanent Subcommittee on Investigations said
Caterpillar avoided paying $2.4 billion in U.S. taxes from 2000 through 2012 by
moving profits from sales of replacement parts through a low-tax unit it set up
in Switzerland.
Democrat Senator Carl Levin,
chairman of the subcommittee and one of Capitol Hill's most dogged questioners,
said
