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Brazil’s Tax Monster

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Brazil's tax system is the most negative aspect of doing business in Latin America's largest economy.

BY THIERRY OGIER

SAO PAULO – Lock up a dozen Brazilian executives in a room, and they are soon bound to moan about the complexity of the tax system – and sound sarcastic about tax lawyers’ fees in Latin America’s largest country.

There is nothing new about the complaint – and here’s the rub: it seems that some things will never change in Brazil, in spite of repeated pledges of tax reform – especially during electoral campaigns, such as the current one.

Brazil’s tax climate is so bad that it ranks as the worst country in Latin America on the 2010 Latin Tax Index from Latin Business Chronicle.

TOO HIGH

The first grievance is that corporate taxes are too high. Four in five of executives recently polled by ....



Keywords: AmCham Sao Paulo, Gerdau, André Jánszky, Milbank, Tweed

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