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You are here: Home Archive 2010 May Weekly Edition 13th May 2010 Taxing times in the US Gulf

Taxing times in the US Gulf

by RAJESH JOSHI last modified May 17, 2010 10:08 AM

Away from the hubbub surrounding BP and Deepwater Horizon, the US taxman has shown up unannounced at the doors of several foreign shipowners on the US Outer Continental Shelf, reports RAJESH JOSHI

DOZENS of foreign shipowners have received letters from the US Internal Revenue Service, asking them to clarify their status vis--vis the taxability of their income for work performed on the US Outer Continental Shelf (OCS) in the Gulf of Mexico.

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