If the Halliburton employees are UK citizens, they will not pay UK taxes on their income once they have been out of the UK for 366 days.
Unfortunately, there is no comparable tax savings for US citizens, not even for the ten year period after they renounce their US citizenship. US law changed in this regard shortly after John Templeton renounced his US citizenship and moved to the Bahamas.
Any alleged major "tax breaks" which you have heard about are merely felony tax evasion rather than a break in US tax law. Perhaps all Halliburton employees in the UAE will "forget to file their US taxes". In this event, the lack of an extradition treaty with the US will be highly advantageous. But this means there is no going back. This would also place Halliburton's assets in the US in jeopardy.
There are certain benefits for foreign employees such as the right to a delay in filing taxes in certain situations, but none of these amount to any kind of major savings.
An a US corporation, headquartered in the US, Halliburton enjoyed a postponement of taxes on income derived from their foreign subsidiaries until that income was repatriated. Moving their headquarters does nothing to change this.
Halliburton has said they do not intend to become a UAE corporation, they are simply moving their headquarters.
If Halliburton chooses in the future to become a UAE corporation, regardless of whether their headquarters remained in Texas or was moved to Russia, their corporate tax treatment would change, but there will be a major price paid for this upfront, with additional costs in the future.
In the interim, the UAE has no extradition treaty with the US, which Halliburon may need for other than tax reasons.
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