Why Exactly Is Halliburton Moving To Dubai?
Is this about tax breaks? Getting beyond the reach of congressional subpoenas? And what about all that sensitive information that Halliburton has had access to? At a minimum, reincorporating in Dubai would mean that Halliburton will be paying less taxes to the U.S. Treasury, even as it collects billions from government contracts.
Is it just a way for Halliburton to deal with Iran in a way that can not be monitored by American officials and companies?
Most people probably don’t realize that Halliburton, our Vice President’s company, has been trading for years with most of the folks on the United States’ “axis of evil” list, including Iran, Saddam’s Iraq, and Libya.
One of the simple ways around this is to simply export the illegal stuff to the United Arab Emirates, where trading activity accounts for the biggest single chunk (16.5%) of a $20 billion economy, to be re-exported to the offending countries.
Or is it a way to avoid paying US taxes while collecting BILLIONS in defense contracts?
Yesterday, Halliburton announced that it would be moving its corporate headquarters from Houston to Dubai. Reincorporating in Dubai would mean that Halliburton — which earned $2.3 billion in profits last year — “will be paying less taxes to the U.S. Treasury, even as it collects billions from government contracts.”