‘Deliberate tax fraud at Caterpillar’
Mar 9, 2017-
A US government-commissioned review concluded Caterpillar intentionally committed tax and financial reporting fraud, the New York Times reported Wednesday. Federal agents last week raided the Illinois headquarters of the US industrial giant, which failed to account for $7.9 billion in overseas income for tax purposes, according to a report by Leslie Robinson, an accounting professor at Dartmouth College. Robinson said Caterpillar’s actions were “deliberate” and “fraudulent rather than negligent,” according to the newspaper. Robinson was hired by an unspecified US agency to review Caterpillar’s finances, which have been probed by US tax authorities and Congress over the accounting of a Swiss subsidiary. The Times story said it was unclear if government agencies agreed with Robinson’s conclusions. Federal investigators descended on three Caterpillar facilities in Illinois on March 2, including its Peoria headquarters.
Published: 09-03-2017 09:58