Some questions about Halliburton

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I've been mulling this over and wanted to ask the great minds of DU:

1) Isn't Halliburton incorporated in the Caymans? I think I saw this on 60 Minutes a while back.

2) If #1 is true, will they be paying US income tax on their war profits?

3) If #1 is true, when did this happen? Was it when Cheney was CEO?

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1. Here's info on Cheney's tenure and H's goofy accounting

snip (but not really what I was asking about -- yet still interesting):

Alex Berenson and Lowell Bergman, two of the New York Times' finest reporters, wrote last week and again today that Halliburton Corporation, under the responsible or irresponsible eyes of its then-Chairman, Dick Cheney, altered its accounting practices so it could report $100 million in challenged costs on large construction projects instead of reporting them as potential losses.

What does this mean? To the layman, it means quite simply that Cheney and Halliburton LIED BALD FACED to its investors, overvaluing the Company by $100 million! And Halliburton now tells us this was a run-of-the-mill accounting decision which Cheney would not have been aware of?


http://www.americanpolitics.com/20020529Cheney.html

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2. Halliburton subsidiaries in offshore tax-havens.

From Citizen Works http://www.citizenworks.org/admin/press/halliburtonlist.php

Halliburton subsidiaries in offshore tax-havens.

AOC Services Limited - Jersey
Avalon Financial Services - Cayman Islands
Baroid Caribbean Limited Brown & Root (Overseas) Limited - Jersey
Brown & Root Cayman Holidings - Cayman Islands
Brown & Root International - Panama
Caspian Transco Inc. - Cayman Islands
Dresser AG - Liechtenstein
Dresser Anstalt - Liechtenstein
Dresser Investments - Netherlands
Antilles Dresser-Rand
C.I. Limited - Cayman Islands
Grove Foreign Sales Corp. - Barbados*
Halliburton Energy Development (Kazakhstan) Limited - Cayman Islands*
Halliburton energy Development - Cayman Islands
Halliburton Geophysical Services - Cayman Islands
Halliburton Latin America - Panama
Halliburton Offshore Servcs Inc. - Cayman Islands*
Halliburton Overseas Limited - Cayman Islands
Halliburton Products & Svcs. - Cayman Islands
Halliburton West Africa Ltd. - Cayman Islands
Halliburton Worldwide Ltd. - Cayman Islands*
Halson Financial Svcs. - Cayman Islands*
HGS enterprises Inc. - Panama
International Admin. Svcs. - Cayman Islands*
International Oil Field Engr. - Cayman Islands
Kellogg Foreign Sales Corp. - Barbados
Kellogg Int'l Services - Cayman Islands
Kellogg ISL Ltd. - Cayman Islands
Kellogg Overseas Corp. - Panama
Kellogg-Chiyoda Services - Cayman Islands
Kinhill Kramer (Vanuatu) - Vanuatu
Kinhill Kramer Solomon - Solomon
Landmark Sales Corp. - Barbados
MWKL Field Services - Cayman Islands
Overseas Administration Servcs - Cayman Islands*
Petroleum and Industrial Maintenance Co. Ltd - Cayman Islands
Professional Resources Ltd. - Bermuda
Property and Casualty Insurance
Limited - Vermont - Bermuda
Security DBS (MEM) E.C. - Bahrain
Service Employees Int'l Inc. - Cayman Islands
Shaw International Ltd. - Barbados

(Source: Halliburton 10-K, Exhibit 21, filed with the SEC in 2000)

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3. Cheney fought Halliburton's tax bill

From the Center for Public Integrity:

The Cayman Islands are a well-known offshore tax haven for both individuals and corporations. The Internal Revenue Service alleged, for example, that Halliburton Company used a Cayman Islands subsidiary, Halliburton Global Limited, to avoid payment of $38 million in taxes owed in 1990 and 1991. Vice President Dick Cheney became Halliburton's CEO in 1995; during his tenure, the company fought the IRS's findings in United States Tax Court. The Center for Public Integrity reported on Halliburton's tax court case in our 2001 book, The Cheating of America.

http://www.publicintegrity.org/dtaweb/report.asp?ReportID=456&L1=10&L2=10&L3=0&L4=0&L5=0