Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Huffington Post)   Bribes aren't tax deductible? What is this, Russia?   (huffingtonpost.com) divider line 30
    More: Interesting, Russia, Foreign Corrupt Practices Act, Organization for Economic Cooperation, Alcatel-Lucent, kickbacks, itemized deduction, bribes, deductibles  
•       •       •

5410 clicks; posted to Main » on 04 Sep 2012 at 4:27 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



30 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread
 
2012-09-04 03:48:14 PM  
 
2012-09-04 03:52:18 PM  
Maybe you can bribe your way out of paying the taxes. Yo dog.
 
2012-09-04 04:30:34 PM  
Worldwide, kingpins of organized crime tend to go down for tax crimes. There's a reason income tax forms have a section for "income not otherwise specified".
 
2012-09-04 04:32:09 PM  
Ty: "This isn't Russia. Is this Russia? This isn't Russia."

Danny: "No"

Ty: "I didn't think so."
 
2012-09-04 04:32:42 PM  
My father got some of his business degrees at Tulane in the 70's. Back then, they still had as part of the curriculum of accounting for bribes, both in the US and domestically, as legally as possible. The professor told them, "Listen, one way or the other, if you're working in a major US city or overseas, your company will be expected to pay bribes. In the US it will be to the mafia. Overseas it will be to government officials."
 
2012-09-04 04:36:04 PM  

Satanic_Hamster: My father got some of his business degrees at Tulane in the 70's. Back then, they still had as part of the curriculum of accounting for bribes, both in the US and domestically, as legally as possible. The professor told them, "Listen, one way or the other, if you're working in a major US city or overseas, your company will be expected to pay bribes. In the US it will be to the mafia. Overseas it will be to government officials."


www.millerparkdrunk.com
 
2012-09-04 04:42:55 PM  
Maybe a little something would help the tax officials reconsider that deduction policy.
 
2012-09-04 04:46:11 PM  
For some reason I read the headline in the voice of Dr. Nick from the Simpsons.

/Inflammable means flammable?
 
2012-09-04 04:46:44 PM  

jigger: Satanic_Hamster: My father got some of his business degrees at Tulane in the 70's. Back then, they still had as part of the curriculum of accounting for bribes, both in the US and domestically, as legally as possible. The professor told them, "Listen, one way or the other, if you're working in a major US city or overseas, your company will be expected to pay bribes. In the US it will be to the mafia. Overseas it will be to government officials."

[www.millerparkdrunk.com image 350x214]


Honestly? Pretty much that. This came up after seeing that movie and hearing a report on NPR on how much business colleges were dropping those parts of courses (and also including ethics sections to the curriculum).
 
2012-09-04 04:48:20 PM  
But the fines when you get caught paying bribes are tax deductible
 
2012-09-04 04:53:32 PM  
Farking filters, how do they work?

In the country formerly known as the USSR, bribes deduct you!
 
2012-09-04 04:56:56 PM  

kvinesknows: But the fines when you get caught paying bribes are tax deductible


Wrong (at least here in US). Per IRS: "Fines and penalties. You cannot deduct fines and penalties paid to a government for violation of any law, including related amounts forfeited as collateral deposits."

Bribes are illegal per Foreign Corrupt Practices Act
 
2012-09-04 05:02:03 PM  
The Russian tax authority is probably the #2 bribe taker in the country, behind only the "justice" sector.
 
2012-09-04 05:08:32 PM  
www.teletoon.com
 
2012-09-04 05:11:37 PM  

Im_Gumby: kvinesknows: But the fines when you get caught paying bribes are tax deductible

Wrong (at least here in US). Per IRS: "Fines and penalties. You cannot deduct fines and penalties paid to a government for violation of any law, including related amounts forfeited as collateral deposits."

Bribes are illegal per Foreign Corrupt Practices Act


OTOH, kickbacks ARE tax-deductible (162(a) of the Internal Revenue Code (26 U.S.C.A. § 162)). I was shocked, and pleased, to learn that.

/Works in construction, it's a fact of life.
 
2012-09-04 05:11:42 PM  

Englebert Slaptyback: Ty: "This isn't Russia. Is this Russia? This isn't Russia."

Danny: "No"

Ty: "I didn't think so."


Came for this.

Also:
Why are they hurting their job creators like this?
 
2012-09-04 05:12:41 PM  

Im_Gumby: kvinesknows: But the fines when you get caught paying bribes are tax deductible

Wrong (at least here in US). Per IRS: "Fines and penalties. You cannot deduct fines and penalties paid to a government for violation of any law, including related amounts forfeited as collateral deposits."

Bribes are illegal per Foreign Corrupt Practices Act


ahh.. must just be us wacky canuckinstiens then.
 
2012-09-04 05:16:52 PM  
Step 1 - Person A make donation to local charity , say $100K.
Step 2 - Local charity employs person B as consultant or Board member.
Step 3 - Take that deduction in full.
 
2012-09-04 05:24:47 PM  
The idea of the Obama fundraisers getting together, talking "green," and perhaps offering taxpayer loan guarantees to insider businesses in the interest of helping the environment - it all seems like a bribe to me.
 
2012-09-04 05:36:50 PM  

Satanic_Hamster: My father got some of his business degrees at Tulane in the 70's. Back then, they still had as part of the curriculum of accounting for bribes, both in the US and domestically, as legally as possible. The professor told them, "Listen, one way or the other, if you're working in a major US city or overseas, your company will be expected to pay bribes. In the US it will be to the mafia. Overseas it will be to government officials."


Facilitation payments are still legal and are a legitimate business expense. Facilitation payments are not bribes in that facilitation payments are only allowed to facilitate otherwise legal transactions, not to go around regulations or break the law. They are made to government officials for the rapid administration of an official act that is already predetermined.
 
2012-09-04 06:03:27 PM  
I like you Betty...
 
2012-09-04 06:03:31 PM  
Corporations are people my friends.

/First, really?
 
2012-09-04 06:09:29 PM  
smitty04: The idea of the Obama fundraisers getting together, talking "green," and perhaps offering taxpayer loan guarantees to insider businesses in the interest of helping the environment - it all seems like a bribe to me.

derp? derp derp derp. derp derp, derp derp. Derp! derp derp derp! derp. who farted, y'all?
 
2012-09-04 06:34:19 PM  
Should have claimed it was a consulting fee.
Or a speakers fee.
Or maybe just bought a million copies of their books.
 
2012-09-04 07:36:36 PM  
I read the headline first as "Bibles" being not tax deductible and didn't find at all surprising the notion that religionists in the US had gotten their own special deduction while in (non-Soviet and Soviet alike) Russia they hadn't managed to pervert things quite so much.
 
2012-09-04 08:13:53 PM  
My uncle is a geologists and did work for a number of oil and mineral companies. He once got sent to Columbia and long story short had to pay a number of bribes. When he returned home and filled out the expense report he wrote in bold the bribes. In addition to some select photos that could have gotten him in trouble with the Columbians. The company was furious, but he covered his ass well enough. Helped that he was also with the government.
at the end of the day he said "Don't send me to places were I need to bribe for safety. If you do accept that it is part of the business."

It opened a whole can of worms for those companies. He still laughs about it. Now he works out of the gulf. He was also in Iraq 6 weeks before they decided to invaded Kuwait. That was when he decided no more international exploration.
 
2012-09-04 09:29:19 PM  

kvinesknows: But the fines when you get caught paying bribes are tax deductible


Don't admit to bribing. Instead say you were lobbying. It's the same thing only it's considered free speech if you call it lobbying
 
2012-09-04 10:04:20 PM  
The Congress of Economic Advisors isn't going to like this...
 
2012-09-05 05:40:34 AM  

AndreMA: I read the headline first as "Bibles" being not tax deductible and didn't find at all surprising the notion that religionists in the US had gotten their own special deduction while in (non-Soviet and Soviet alike) Russia they hadn't managed to pervert things quite so much.


ticketsofrussia.ru
 
2012-09-05 10:17:13 AM  
Then there was the time our bookkeeper 1099'd the recipient of the blackmail payments.
 
Displayed 30 of 30 comments

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
Advertisement
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report