Trade: Aussie companies can claim bribes as tax deduction according to OECD

Although officially banned, Australian firms could claim tax deductions on bribes paid to overseas businesses. That is the conclusion of a report issued by the Paris based Organisation for Economic Cooperation and Development (OECD).

The report found that companies could still make what were termed "facilitation payments" (an acceptable name for small bribes) and claim them on tax.

Of course those who have never had to do business with eastern countries are up in arms crying, "disgusting innit like." Hello - there is a real world out there folks. It may not be nice, it may not be acceptable - but it's a fact of life.