The Office of the Chief Counsel of the IRS released an Advice Memorandum on May 6 that said a disgorgement payment to the SEC in a corporate FCPA enforcement action wasn't tax deductible.
Entries in Taxes (33)
The owners of a tax preparation business that filed fraudulent tax returns on behalf of inmates at various New Jersey prisons were sentenced Friday to multi-year prison sentences.
In prior posts I noted both Kazakhstan’s successes and failures in improving its business environment and examined the possible reasons for Kazakhstan’s contradictory performance. I also provided tips for American companies contemplating potential investments in Kazakhstan or other emerging markets.
Mondelēz International, Inc. said in a securities filing Friday that it received a Wells notice from the SEC in connection with operations in India and a factory there it bought from Cadbury.
Three employees of Swift Technical Solutions Ltd were found not guilty at Southwark Crown Court in London of corruption offenses related to the tax affairs of a Nigerian subsidiary, the SFO said Tuesday.
China’s state-run newspaper People’s Daily has accused multinational companies of avoiding taxes in China and urged authorities to take measures to combat tax evasion.
Corporate spending for entertainment in South Korea is in the news. Expenses for booze and apparently other nighttime activities are deductible, so the National Tax Service can track bar bills through tax returns.
A unit of Archer Daniels Midland Company (ADM) pleaded guilty Friday to violating the FCPA by bribing Ukrainian government officials through vendors in exchange for value-added tax (VAT) refunds.
Park-Ohio Industries Inc. said Thursday a third-party payment on its behalf to tax authorities may have violated the Foreign Corrupt Practices Act.