At the end of March, multinational manufacturer of construction and mining equipment, Caterpillar, was brought before the US Senate to explain its tax affairs, accused of profit shifting and aggressive tax planning. Mirna Screpante, tax researcher, describes the tax effects caused by the model currently accused of avoiding taxes.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year