Caterpillar Inc., the world’s largest machinery producer, is warning it may owe more money in taxes due to new U.S. regulations regarding earnings outside the country.
The Treasury Department in January issued final guidance related to how the government calculates mandatory deemed repatriation of non-U.S. earnings, the Deerfield, Illinois-based company said in a filing. The settlement may result in the company owing more in taxes, it said.
“We are currently evaluating the impact of these regulations and will recognize any resulting adjustments in the first quarter of 2019,” Caterpillar said in an annual filing to the Securities and Exchange Commission. ...
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