Foreign Corrupt Practices
International Tax and IRS Voluntary Disclosure Attorneys in Boston
Boston companies doing business in foreign markets come to the Thorn Law Group to ensure they are meeting all requirements of the Foreign Corrupt Practices Act (FCPA).
The FCPA contains accounting and record-keeping provisions that apply to publically traded U.S. companies, requiring that they record all dispositions of company assets. The FCPA also prohibits bribes. Penalties for violating the FCPA vary, but can be very severe, particularly in the case of bribery.
If you or your company have made payments overseas, it is important you be able to prove you have acted in line with the written laws of the recipient’s country or that the payment is a “reasonable” and directly “related” to the U.S. person’s promotional activities in the recipient's company.