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There was offshore drilling off every shore and offshore subsidiaries on every corner.
It also imposes lower-than-average taxes on offshore subsidiaries technically controlled from its shores, including those in tax havens.
Many of the bonds are issued through offshore subsidiaries in low-tax jurisdictions such as the Cayman Islands.
An investigation by tax officials revealed thousands of secret accounts, many in the offshore subsidiaries of UK high street banks.
Some of the transactions carried out by these offshore subsidiaries appear to have little or no economic substance.
The company adamantly denies that its offshore subsidiaries are used to shift income out of the U.S.
But companies would not need to channel sales through offshore subsidiaries, which are often situated in tax havens.
Enron created 881 offshore subsidiaries, 692 of them in the Cayman Islands, as part of its strategy to avoid taxes.
The tax break lets companies shield income earned in those businesses from taxes by shifting money to offshore subsidiaries.
And it would have been able to borrow money from cash-rich offshore subsidiaries to finance Dell's operations, all without having to pay United States corporate income taxes.
Eliminating the interest tax deduction may reduce investment, and result in country arbitrage as companies shift debt and equity to offshore subsidiaries with more favorable tax regimes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com