Remember how CAT was going to "leave Illinois" over the increase in corporate rates?
Sounds like we need to give this CAT Executive a medal!!!
Caterpillar Accused of Demoting Executive Discovering $2 Billion Tax Dodge - Bloomberg
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Caterpillars U.S. federal income tax return for 2003 reflects far lower numbers: $4,667 in tax on taxable income of $18 million and revenue of $22.8 billion. Dugan, the Caterpillar spokesman, declined to comment on the 2003 return, which was filed as an exhibit to Schlicksups complaint.
Caterpillar Inc. used offshore subsidiaries in Switzerland and Bermuda to avoid about $2 billion in U.S. taxes from 2000 to 2009, boosting its earnings through a tax and financial statement fraud, according to a Caterpillar executives lawsuit.
The executives did not respond, according to his complaint. Then, in August of 2008, a human resources executive told Schlicksup that he could transfer to Caterpillars information technology division or leave the company, his complaint says.
The new job involved overseeing implementation of a computer system he knew nothing about, his suit claims, for less pay and a smaller bonus target. Schlicksup called it a demotion. After a meeting with Caterpillars human resources department, his pay was restored, according to the lawsuit, though he says the transfer out of his area of expertise makes him unlikely to be promoted.
Sounds like we need to give this CAT Executive a medal!!!
Caterpillar Accused of Demoting Executive Discovering $2 Billion Tax Dodge - Bloomberg
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