Bermuda VISIT costs Accenture $10bn

[UpInArms]

http://economictimes.indiatimes.com/articleshow/731512.cms

WASHINGTON : A US House of Representatives committee passed a measure on Wednesday that will block Accenture from a $10-bn security contract because the consulting firm is not based in the US .

The House Appropriations Committee voted 35-17 to modify the department of homeland security’s $32-bn budget to prevent Bermuda- based Accenture from implementing a programme that will would track foreign visitors.

“It is simply wrong for the department of homeland security to award an expatriate with the largest corporate contract to date,” said Connecticut Democratic Representative Rosa DeLauro, a co-sponsor of the amendment. “We have two other competitors who are paying their taxes in the US .”

<snip>

Accenture, formerly known as Andersen Consulting, employs 28% of its work force in the US through an Illinois subsidiary, Accenture. A company spokesman said the company will pay US taxes on the income it receives from the contract. “It is very early in the process and we will continue to monitor legislative developments closely,” Accenture spokesman Jim McAvoy said.

...more...

[Atman]

1. Ha ha, stupid crook mofos

I wonder how much their little moved "saved" them in taxes. I hope it was worth it! LOL!

[lanparty]

2. Wohooo

This is good news. Primarily because Accenture has ZERO experience in this area.

[Reciprocity]

3. Lou Dobbs

Has an article in US News& World Report on this topic.

Dereliction of duty
<snip>
The award is especially surprising because the federal government passed over two American bidders, Lockheed Martin Corp. and Computer Sciences Corp., to give the contract to Accenture LLP, whose parent company, Accenture Ltd., is headquartered in Bermuda. The deal raises questions as to whether government contracts, especially security contracts, should be awarded to non-U.S. companies and, more broadly, whether the United States is doing enough to discourage companies from expatriating and incorporating overseas.
for more
http://www.usnews.com/usnews/issue/040614/opinion/14dobbs.htm

[Don_G]

4. So They Visited Their PO Box In The Bahamas

To screw everyone else in America out of 100 percent of the taxable income the $10 Billion contract would have meant in the US.

I'm no accountant, but I wouldn't trade a $600 PO Box for a $10 Billion dollar contract on my way to corporate riches by screwing your employer.

[Dover]

5. Way to GO! Now THAT's how to run a government!

...

[Alpharetta]

6. snotnosed Andersen geeks get another gutpunch. I love it.

arrogant kids right out of school walking around w/ consulting job titles. what a crock.

most of them are laid off, but that's still my memory of Andersen Consulting from the 90's.

Eat some humble pie, kids.

[MedicineHat]

8. heh heh... what do you REALLY mean?

My wife worked at AC in the 90's, and your description fits a number of folks (although there were a lot of good kids there too..). You're right about the layoffs--they got downsized a bunch in last few years but seem to be growing again now. Back in the money years those partners could throw some SERIOUS parties...

[Ilsa]

7. They say they would have paid taxes on the income?

Yeah, right, after deducting the LILO lease expense on a sewer in France or someplace.

[2Design]

9. yeah finally someone is at their desk.....with a brain

[struggle4progress]

10. Good. This looks like a $10bn boondoggle.