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Chutzpah February 18, 2008

Posted by davidzweig in economics.

Israel: Company tries to get tax exemption for bribes

A News item from Business Respect, Issue Number 121, dated 9 Feb 2008A district court in Tel Aviv has turned down a request from a company, name withheld by the court, that had requested the right to deduct just under $900,000 paid in bribes from the company’s tax bill.The bribes were apparently paid to help secure a business deal in an unknown African country. The company argued that the bribes were necessary as part of the local business custom, and therefore should be tax exempt under Israili law.

The court rejected the petition, and said that companies had to reflect the values of its home state in the way that it carried out business abroad.

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