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Entries in Taxes (35)

Wednesday
Nov302016

Daniel Patrick Wendt: So how does the DOJ calculate disgorgement?

In the prior post I talked about how, after nearly 40 years of FCPA history, the DOJ first used disgorgement as a remedy, including it this year in two declinations under the Pilot Program.

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Monday
Nov282016

Daniel Patrick Wendt: Are those DOJ disgorgements really disgorgement?

This year the DOJ required disgorgement of ill-gotten gains as a predicate for preferential treatment under the new FCPA enforcement Pilot Program, regardless of whether the participating company was publicly or privately owned. 

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Tuesday
May312016

Yes, no, maybe? This time, IRS says FCPA disgorgement is non-deductible

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.

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Monday
Apr182016

Tax preppers jailed years for filing bogus returns for prison inmates

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.

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Tuesday
Apr052016

Panama Papers: Who are the winners now?

Image courtesy of the ICIJIt's not illegal for most people to own anonymous companies. Walt Disney used them to buy land near Orlando for Disney World. He didn't want prices to go crazy with news Mickey Mouse was coming to town.

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Thursday
Mar172016

Here's a plan for managing corruption risks in emerging markets

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.

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Monday
Feb222016

Practice note: Philanthropic and grant-giving activities in emerging markets

In the e-book we wrote as a guide to navigating corruption challenges in emerging markets, we talk in one chapter about guarding against anti-corruption problems in connection with philanthropic and grant-giving activities.

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Monday
Feb222016

SEC staff recommends FCPA enforcement action against Oreo maker Mondelēz International

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.

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Tuesday
Jun022015

SFO loss: UK defendants acquitted for Nigeria payments

Image courtesy of Google MapsThree 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.

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Friday
Apr102015

World Bank Program: Tax Evasion and Financing for Development -- Strengthening Global Action

Image courtesy of the World Bank GroupOn Friday April 17, the World Bank Group will host a program that discusses the importance of strengthening global action to reduce and deter tax evasion. You can attend the program in person by registering here, or stream the event online here.

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Tuesday
Oct212014

China state newspaper accuses foreign firms of tax evasion

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.

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Monday
Aug252014

South Korea businessmen are on a bender

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.

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