People may say they don't mind the US system, but give them a Swiss bank account or a name in an offshore account, and you will rarely see them refuse. In fact it pays to pay your taxes and never evade, or avoid, even, but why are we in South America at all with business? It is much more costly to administer. The only reason is lower taxes, labour costs and fewer regs.
Many SA regimes are taxing at 25% max. When they all go to 40% there is no reason to leave home at all. SA countries will find this out. It is not as if the have no corruption and red tape at all. Business has fled to far off shores for some other reasons. Environment, regs, opportunity, fewer taxes, faster pathway to production, less time to return. There is that much reward in these factors, even given the palpable risk. The foreign socialismo governments will see the much steeper laffer curve over there, when they start to get greedy. I have repeatedly said that Chile of all the SA countries is the only one I would unreservedly recommend. Tax structure, and stability. It is in fact more stable than Canada, cheaper to operate in and far more money at the end of the investment day. Repatriation? Why bother? If the money is better there, leave it there. Of course that sort of lets out the investor's dividends, but I guess it is a matter of taste.
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