Publish in Special Reports - Wednesday, May 3, 2017
Brazil's tax agency Receita Federal (RFB). Brazil has now slashed the hours necessary to complay with tax payments but it's still the worst worldwide, according to Latinvex and World Bank data. (Photo: Brazil Government)
Brazil and Mexico gain, Chile and Colombia drop on Latinvex tax ranking.
BY LATINVEX STAFF
Even as Brazil’s President Michel Temer and his finance minister Henrique Meirelles are planning to reform Brazil’s tax system, the country has already made a significant improvement – slashing the number of hours necessary to comply with corporate tax regulations.
As a result, Brazil improved its score on the Latinvex ranking of Latin America’s tax climates and no longer ranks as the worst country in Latin America. That dubious honor now goes to Venezuela.
The ranking, which is based on data from KPMG, PwC and The World Bank, measures the tax environment in 18 countries based on corporate tax rate and time and number of payments necessary to comply with tax regulations.
BRAZIL AND MEXICO
Brazil, Latin America’s largest economy, slashed the number of hours necessary to comply with tax regulations from ...
Article Keywords: Bolivia, Brazil, Chile, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Uruguay, Venezuela
Ranking Keywords: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, Venezuela