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.
Entries in Taxes (24)
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.
U.S. Attorney Preet Bharara said Tuesday the United States has filed a civil forfeiture action against the assets of nine companies that own real estate in Manhattan. The complaint targets four luxury residential units and two high-end commercial spaces.
Since discovering oil in 2009, Uganda has not pumped a single barrel and the resource remains unexploited. An historic opportunity has so far been stymied by bureaucracy, law suits, corruption, hostilities with neighbors taking on a military hue, as well as the lack of adequate infrastructure to move the oil to market.
1. Allegations against Wal-Mart -- Just when the debate about FCPA reform was heating up, the New York Times reported that Wal-Mart may have paid $24 million in bribes to Mexican officials to grow the business. The story showed why the FCPA is important. And it derailed the Chamber of Commerce's campaign to narrow the law and restrict the DOJ's enforcement of it.
The U.K. Serious Fraud Office said Monday that three men and a woman were charged in Westminster Magistrates' Court with two counts of conspiracy to corrupt.
The OECD Working Group on Bribery has published its latest assessment on France's fight against overseas graft.
In editorials directly addressing Bureau of Internal Revenue Commissioner Kim Henares, two Philippines-based journalists urged the government to exercise "extreme caution" before entertaining a contract bid from Chinese laser technology company Huagong Tech Company Ltd.
Three executives from oil services firm Noble Corporation were charged today by the Securities and Exchange Commission with bribing officials in Nigeria in exchange for illegal import permits for drilling rigs.