And write-offs for all those hit contracts

Some companies request tax deductions for philanthropy, others for restaurants bills. But one Israeli business tried to push the envelope by asking to deduct nearly $860,000 it paid in kickbacks.

A Tel Aviv district court rejected the petition on Feb. 8.

The business, whose name was withheld by the court, asked to deduct the sum for kickbacks that were paid to help spur a business deal. The Israeli daily Maariv reported that the deal took place in an unidentified African nation. The company alleged the kickback was necessary as a part of the local business custom and therefore should be exempted from the Israeli law.

CBS News