02/26/2014
https://www.congress.gov...
"You have seen it. But you just never heard it described as a virtual one?"
"So from the beginning, the decision to use CSARL and direct Caterpillar's non-U.S. profits to Switzerland was to shift profits to a low-tax jurisdiction."
"That was its purpose. Right?"
"The Subcommittee for many years has investigated how some of our most profitable corporations exploit loopholes in the U.S. tax code to shift income and profits to offshore tax havens, thereby denying..."