The Bribery Act 2010 and the ever-increasing imposition of EU/US sanctions impact on tax compliance. Illegal payments are not tax deductible. Tax reporting issues must be considered when illegal activity is discovered. Furthermore, a SAO must dovetail the company’s tax accounting procedures with the ‘adequate procedures’ to prevent bribery required under the bribery legislation.
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The Bribery Act 2010 and the ever-increasing imposition of EU/US sanctions impact on tax compliance. Illegal payments are not tax deductible. Tax reporting issues must be considered when illegal activity is discovered. Furthermore, a SAO must dovetail the company’s tax accounting procedures with the ‘adequate procedures’ to prevent bribery required under the bribery legislation.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: