Industrial espionage: is it tax deductible?
British tribunal sees spying as a normal business expense…
Industrial espionage: It’s tax deductible
By Mark Halper | October 16, 2012, 3:48 AM PDT
How do you soften the blow when you’ve had to pay a $100 million fine for spying on your business rival?
You deduct it from taxes.
That’s what British Formula 1 race car team McLaren is doing with a penalty it paid for secretly photocopying technical designs belonging to Italian rival Ferrari.
A British tax tribunal has even approved the maneuver. It agreed with McLaren that “spying on rivals is a normal business expense,” as BBC Radio 4 presenter John Humphrys phrased it on a recent news program (you can listen here until the link expires).
The fine was levied by Fomula 1’s French ruling body, the Federation Internationale de l’Automobile, and not via civil action.
Pssst! If you snap the […]


