LAW 533 Chapter Notes - Chapter 12: Standard Operating Procedure, Disclose, Transparency International
30 Dec 2019
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Until 1999, payments to foreign officials that are now characterized as bribery were considered tax deductible: we are now in a period of evolution, it used to be a cost of doing business. Siemens got caught once the law made bribery unacceptable. As a member of the oecd, canada signed the convention on combating bribery of foreign public. Officials in international business transactions (the oecd convention). To satisfy its obligations under the oecd convention, the government of canada implemented the corruption of foreign. Everyone who is guilty is guilty of an indictable offence and liable to imprisonment for a term not exceeding 5 years. Preventative approaches of fighting corruption abroad: assess your risks, consider the host country where you want to do business. Perceptions index published by transparency international, in order to evaluate the host country"s risk profile. Also helps with respect to showing that a company did everything that they could.
