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1. What is the estimated dollar amount of the annual tax reduction for the initial move to the Grand Cayman Islands? 2. Is the company has been tax conservative or tax aggressive or something in between regarding the management of income tax expense? Please show the calculation and explanation.

1. What is the estimated dollar amount of the annual tax reduction for the initial move to the Grand Cayman Islands? 2. Is the company has been tax conservative or tax aggressive or something in between regarding the management of income tax expense? Please show the calculation and explanation.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Revenue Income before tax Income tax expense TABLE 2 Transocean Effective Tax Rate following Inversions and Conversion to Master Limited Partnership Grand Caymans Corp. 2000 Show Transcribed Text U.S. Corp. 1998 S 1,089,612,000 487,146,000 143,730,000 c 1,229,513,000 144,416,000 36,699,000 Swiss Corp. 2009 11,556,000,000 3,924,000,000 754,000,000 U.S. MLP Subsidiary 2015 7,386,000,000 1,030,000,000 206,000,000 1. What is the estimated dollar amount of the annual tax reduction for the initial move to the Grand Cayman Islands? 2. Is the company has been tax conservative or tax aggressive or something in between regarding the management of income tax expense? Please show the calculation and explanation.
Transcribed Image Text:Revenue Income before tax Income tax expense TABLE 2 Transocean Effective Tax Rate following Inversions and Conversion to Master Limited Partnership Grand Caymans Corp. 2000 Show Transcribed Text U.S. Corp. 1998 S 1,089,612,000 487,146,000 143,730,000 c 1,229,513,000 144,416,000 36,699,000 Swiss Corp. 2009 11,556,000,000 3,924,000,000 754,000,000 U.S. MLP Subsidiary 2015 7,386,000,000 1,030,000,000 206,000,000 1. What is the estimated dollar amount of the annual tax reduction for the initial move to the Grand Cayman Islands? 2. Is the company has been tax conservative or tax aggressive or something in between regarding the management of income tax expense? Please show the calculation and explanation.
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