CAT Faces Tax Threat Down Under
Caterpillar Inc. (NYSE:CAT), the world’s largest manufacturer of construction and mining equipment, remains concerned regarding the detrimental effect of Australia’s proposed 40% Resources Super Profit Tax (RSPT) on its Australian sales and profits.
On May 2, 2010, the Australian government unveiled its new 40% tax rate on mining projects effective July 2012 that sent ripples of dissent through the mining sector. The proposed levy would be imposed on the companies’ returns that exceed the rate … [visit site to read more]
