In this paper, using single-country firm-level corruption data, we analyze the effect of corruption on foreign wholly-owned subsidiary survival in an emerging country. Applying an event history analysis to a population of 3 483 wholly-owned subsidiaries in Indonesia over a 33-year period, we test the influence of bribes and indirect taxes on survival. Results show that corruption moderates the hazard rate for young subsidiaries, but this corruption effect disappears for older ones.