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Senate to Investigate Whether Transocean ‘Exploited’ U.S. Tax Law

Transocean Logo Following up on my prior post, Transocean: Better at Tax Planning Than Oil Drilling:  Senate Finance Committee Chairman Max Baucus announced today that he has launched an investigation into the tax practices of Transocean Ltd., the owner of the offshore drilling rig that exploded in the Gulf of Mexico and caused the disastrous oil spill.  Sen. Baucus is questioning whether Transocean “exploited” U.S. tax law by moving its headquarters overseas, first to the Cayman Islands and later to Switzerland.


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