Caterpillar to testify before U.S. Senate regarding business structure

In testimony tomorrow before the U.S. Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations, Caterpillar VP with responsibility for the Finance Services Division Julie Lagacy will discuss Caterpillar's business planning, which the company says is, "common among responsible U.S. multinational corporations." After a review of Caterpillar's international tax compliance, the PSI chairman's staff report focuses on one aspect of the company's overall business: parts sales outside of the United States by Caterpillar subsidiary, Caterpillar SARL. "CSARL is a major operating company with thousands of people around the world who perform strategically critical work to support our customers in non-U.S. markets," Lagacy said. Lagacy's testimony will be delivered at a hearing titled "Caterpillar's Offshore Tax Strategy."