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Bribes no longer tax deductible

Taxpayers are soon to lose the right to claim the payment of bribes to Swiss and foreign officials as a tax-deductible expense.

This content was published on August 23, 2000 - 18:42

The government announced on Wednesday that changes to federal laws on direct taxation would come into effect on January 1, 2001.

The change will affect both private individuals and companies, which will no longer be to able list bribes among legitimate business expenses.

The right has been recognised by law since 1946, but was a source of embarrassment to the government, which believed it undermined confidence in the state.

Parliament voted last year to end the practice.

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