Comments on: The 5 Most Bizarre Tax Deductions Around the World http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sun, 12 Feb 2012 05:07:51 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: marc b http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-46072 marc b Tue, 02 Mar 2010 00:57:58 +0000 http://www.mint.com/blog/?p=7552#comment-46072 Although I do not know all the ins and outs of the bribery tax deduction in Germany, I am aware that the bribery deduction was only permissible in very limited situations and for very specific reasons; and in no way is permissible within Germany or European Union countries. This "deduction" generally applied to doing business in third world countries, by bribery's inevitable necessity of negative enforcement, where corruption happens even without Germany; it's a matter of participating in an ongoing system. I think this is probably a matter of being too honest, where just because Germany allows bribes to be "deducted" as an expense, simply shines an obvious light on the issue. Is Germany more corrupt; when so many other countries are just as corrupt and bribe just as much, but just hide it or at least don't shine a light on it? Interesting lecture on this issue http://www.ted.com/talks/lang/eng/peter_eigen_how_to_expose_the_corrupt.html @ (7:30 - end) Although I do not know all the ins and outs of the bribery tax deduction in Germany, I am aware that the bribery deduction was only permissible in very limited situations and for very specific reasons; and in no way is permissible within Germany or European Union countries. This “deduction” generally applied to doing business in third world countries, by bribery’s inevitable necessity of negative enforcement, where corruption happens even without Germany; it’s a matter of participating in an ongoing system.

I think this is probably a matter of being too honest, where just because Germany allows bribes to be “deducted” as an expense, simply shines an obvious light on the issue. Is Germany more corrupt; when so many other countries are just as corrupt and bribe just as much, but just hide it or at least don’t shine a light on it?

Interesting lecture on this issue http://www.ted.com/talks/lang/eng/peter_eigen_how_to_expose_the_corrupt.html @ (7:30 – end)

]]> By: Keith http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43693 Keith Thu, 31 Dec 2009 08:13:58 +0000 http://www.mint.com/blog/?p=7552#comment-43693 The Italian rent tax break is for €1,000 (euro), not for $1,000. The conversion of €1,000 to US dollars is $1433.80 today (December 30, 2009). Many individual states within the USA have had a rent tax break for many years. However, they aren't limited to men in the "20-something to 30-something" age range; that would be considered sex and age discrimination. The tax break in the state of California, which became effective in 1973, is for $60 to $120 and has adjusted gross income limitations. OK, men, move away from mommy and we'll give you a free tank of gas for your car... :-s The Italian rent tax break is for €1,000 (euro), not for $1,000. The conversion of €1,000 to US dollars is $1433.80 today (December 30, 2009). Many individual states within the USA have had a rent tax break for many years. However, they aren’t limited to men in the “20-something to 30-something” age range; that would be considered sex and age discrimination. The tax break in the state of California, which became effective in 1973, is for $60 to $120 and has adjusted gross income limitations. OK, men, move away from mommy and we’ll give you a free tank of gas for your car… :-s ]]> By: Marilyn http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43670 Marilyn Wed, 30 Dec 2009 19:58:52 +0000 http://www.mint.com/blog/?p=7552#comment-43670 Most of these can be used in US as well. One must declare bribes and kickbacks as income in US and many businesses use charms and amulets, etc as part of the business of healing. Not so unusual. Most of these can be used in US as well. One must declare bribes and kickbacks as income in US and many businesses use charms and amulets, etc as part of the business of healing. Not so unusual. ]]> By: Ryan http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43305 Ryan Fri, 18 Dec 2009 22:38:32 +0000 http://www.mint.com/blog/?p=7552#comment-43305 I wonder if there's any actual results if the Italian incentive has actually worked. It seems like a fairly small amount. Maybe a month or two worth of rent and that's about it. I wonder if there’s any actual results if the Italian incentive has actually worked. It seems like a fairly small amount. Maybe a month or two worth of rent and that’s about it. ]]> By: Paul http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43304 Paul Fri, 18 Dec 2009 22:24:53 +0000 http://www.mint.com/blog/?p=7552#comment-43304 No wonder Norway has a healthy economy. All tax-loopholes were shut in 1988 as the tax-rates were lowered. Only billionaires enjoy taxprivileges here..... No wonder Norway has a healthy economy. All tax-loopholes were shut in 1988 as the tax-rates were lowered. Only billionaires enjoy taxprivileges here….. ]]> By: anti http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43231 anti Thu, 17 Dec 2009 10:14:01 +0000 http://www.mint.com/blog/?p=7552#comment-43231 You do know that the law regarding tax deductions for bribes has been changed in 1998 (over ten years ago)? And that bribery is punished with up to 5 years of prison (§ 334 StGB). Nice, list, but I don't even care enough to check if the other four are true. You do know that the law regarding tax deductions for bribes has been changed in 1998 (over ten years ago)?

And that bribery is punished with up to 5 years of prison (§ 334 StGB).

Nice, list, but I don’t even care enough to check if the other four are true.

]]> By: The German Guy http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43226 The German Guy Thu, 17 Dec 2009 08:19:47 +0000 http://www.mint.com/blog/?p=7552#comment-43226 You shouldn't quote an article from 1995 without checking the facts again. Even if it's one from Business Week. Bribes are illegal in Germany and the possibility to deduct them has vanished years ago. You shouldn’t quote an article from 1995 without checking the facts again. Even if it’s one from Business Week. Bribes are illegal in Germany and the possibility to deduct them has vanished years ago. ]]> By: KM http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43186 KM Wed, 16 Dec 2009 07:56:57 +0000 http://www.mint.com/blog/?p=7552#comment-43186 Actually it was permitted in Germany. Since 1998 it's not anymore. Have a look here: http://www.oecd.org/dataoecd/58/10/41353070.pdf Actually it was permitted in Germany. Since 1998 it’s not anymore. Have a look here:
http://www.oecd.org/dataoecd/58/10/41353070.pdf ]]> By: Matt http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43170 Matt Tue, 15 Dec 2009 22:04:35 +0000 http://www.mint.com/blog/?p=7552#comment-43170 This is hilarious. But not surprising. The tax code was made for this type of stuff. This is hilarious.
But not surprising. The tax code was made for this type of stuff. ]]> By: George http://www.mint.com/blog/trends/the-5-most-bizarre-tax-deductions-around-the-world/comment-page-1/#comment-43165 George Tue, 15 Dec 2009 21:02:21 +0000 http://www.mint.com/blog/?p=7552#comment-43165 Fascinating. That's very surprising about Germany. I didn't know bribery was legal there! Then again, other countries have different values and customs, so having different business practices from us is natural. Fascinating. That’s very surprising about Germany. I didn’t know bribery was legal there! Then again, other countries have different values and customs, so having different business practices from us is natural. ]]>