Norway Police Fine Transocean Units for Understating Profit
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Norway’s agency for economic crime said it fined units of Transocean Ltd. for underreporting taxable income in 2001 and 2002.
The government in Oslo will seek 1.8 billion kroner ($310 million) in back taxes from Transocean and former employees of accounting firm Ernst & Young and Norwegian law-firm Thommessen, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime said today in an e-mailed statement.