It was acceptable in the 1990s, apparently. “Applying today’s standards to something 25 years ago . . . nothing looks good in that light,” sighed one veteran tax source, who was around at the time.
“It was reflective of what was happening at the time. There was a lot of new FDI coming in, with Intel and the likes. It was the start of that big push in terms of ramping up what had been...
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