Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, said his investigation would examine whether Transocean is exploiting loopholes in U.S. tax law by moving its headquarters overseas.
The company moved its headquarters to landlocked Switzerland two years ago, where it paid a 16 percent tax on its $4.4 billion global operating income last year. Before that, the company had been located in the Cayman Islands, another tax haven.
The company was once based in Delaware, where many U.S. corporations have headquarters because of the friendly tax treatment.
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