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Politics : Politics for Pros- moderated
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To: FJB who wrote (366396)5/28/2010 11:49:00 AM
From: Brumar891 Recommendation   of 793883
 
Brazil does have very high taxes and lots of different, confusing and constantly changing tax laws ..... the other side of the story is I think people and local businesses cheat on their taxes a lot there.

Coincidentally, early in the week I was in a meeting where Brazil's business complexity was discussed. From a powerpoint slide:

50+ different types of taxes, constantly changing

heavy paperwork requirments

local content - unclear rules

goods 60% local content
services 80% local content

tax rates

foreign vendors goods 76% services 45%
local vendors goods 56% services 17%

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Why would a foreign company do business there? For us its offshore oil. Plentiful natural resources can cover a lot of governmental mistakes.
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