The AP reports this Sunday that Halliburton is moving its corporate headquarters from Houston to Dubai, chief executive Dave Lesar announced Sunday.”
This is of course the same Halliburton that government investigations have determined overcharged and wasted at least $2.7 billion of taxpayer’s money through it’s KBR subsidiary that still “supports” the US military in Iraq, but still made profits of $2.6 billion last year alone.
And this is of course is the same Dubai that the US public and most of the Congress didn’t want managing and operating US ports because of national security concerns.
“I will spend the majority of my time in Dubai" said Lesar.
It should come as a shock to no one that from heron on out the only possible US corporate taxes Halliburton might pay will be confined to the Houston sub-office.
Mr Lesar, his staff and his company may also enjoy another benefit of moving to Dubai-- the US does not have an extradition treaty or a mutual legal assistance treaty with the UAE.
But with Halliburton moving to Dubai, doesn’t that then make it a foreign company and thus subject to concomitant examination and restrictions regarding US tax and tariff codes, and of course government contracts? Or have they found a way to evade that too, as they seem to have everything else?