The 1999 transaction significantly changed how profits were allocated for tax purposes.
The Subcommittee for many years has investigated how some of our most profitable corporations exploit loopholes in the U.S. tax code to shif...
Thank you, Senator McCain.
And would any reasonable business have entered into the type of exchange that occurred here?
So you use words, too, 'low-tax [marketing] countries'? Don't you ever use those words?
Now let us get down to CSARL.
That it should not pretend that it is in Switzerland.
Caterpillar dealers are--they are an independent dealer network, yes.
the allocations of profits changed as a result of that.
Did the tax strategy relate to parts? That is my question.
Is there any rational company that would give up 85 percent of ongoing profits in a business that has been highly profitable?