Corruption Pay a bribe, take a tax write off.
That has long been the rule in Germany and other industrialized countries. These nations have not only tolerated bribery of overseas government officials, they have effectively encouraged bribery through tax policies that treat bribes like any other business expense. Now a new, just-finalized treaty among the rich countries is set to impose a modicum of ethics and sanity on international business practices. The new Anti-Bribery Convention, agreed to by members of the Organization of Economic Cooperation and Development, a grouping of the world's rich nations, requires countries to criminalize bribery of foreign public officials. The treaty should make a real dent in corruption in developing countries and the countries of the former Eastern Bloc.