Word: corruptable
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...Administration will probably move to alleviate the tax burden of Americans working abroad. U.S. contractors are now sometimes forced to use foreign labor to keep their bids competitive for overseas work because U.S. taxes make it too expensive to send U.S. workers abroad. The vague language of the Foreign Corrupt Practices Act of 1977, aimed at stopping bribery to secure overseas sales, currently discourages some businessmen from getting involved in exports at all. The Administration is likely to support clarification...
...effort to stop such corruption, revelations of which rocked the government of Takeo Miki in Japan and disgraced Prince Bernhard in The Netherlands, the Foreign Corrupt Practices Act made it a criminal offense to pay bribes of any sort to foreign officials to secure or retain business abroad. Punishment could be a prison sentence of up to five years and fines of as much as $10,000 for individuals and $1 million for corporations. The legislation also set up accounting procedures designed to make it virtually impossible for companies to disguise such "sensitive payments" or to hide them elsewhere...
...when the lease expired, a new minister had taken over and he refused to renew it. The indignant oilmen thereupon protested to the local American ambassador, who informed the Justice Department. The department in turn obtained a federal court injunction in 1979 preventing the men from violating the Corrupt Practices Act, which was by then...
While the U.S. took a firm moral stand against corruption with the 1977 legislation, the governments in most leading West European countries either openly condone bribery or look the other way. A confidential West German memorandum by the Federal Office for Foreign Trade Information advises companies to be prepared in difficult deals to fork over as much as 20% of the contract price to corrupt foreign officials. All such expenditures, which can run into the millions of dollars on large engineering and construction projects, are completely tax deductible as a necessary cost of business. Italy passed...
Senate Republican John Chafee of Rhode Island is expected to re-introduce a bill this week that would make some such changes in the Foreign Corrupt Practices Act. Chafee lauds the law as an "important step toward the objective of prohibiting bribery of foreign government officials." But he also says that it is "difficult to decipher, hard to implement, and its ambiguities have bred confusion...