Advertisement

IN BRIEF / OIL SERVICES

Halliburton Discloses Improper Payments

May 09, 2003|From Reuters

Halliburton Co. said in a regulatory filing that it has disclosed to the Securities and Exchange Commission it made about $2.4 million in improper payments in Nigeria.

The Houston-based company, once run by Vice President Dick Cheney, said it discovered during an audit that one of its foreign subsidiaries paid $2.4 million to an entity owned by a Nigerian national to get favorable tax treatment.

Halliburton said it was cooperating with the SEC and that it may have to pay up to $5 million more in taxes in Nigeria.

Advertisement
Los Angeles Times Articles
|
|
|