Survey: Brazil’s Corporate Income Taxation is Among Highest in World

According to a survey by the National Confederation of Industry (CNI), the data show that when total taxes and levies collected by companies are measured as a percentage of profit, Brazil is among the world's worst--almost 2/3 of profits go to the government in taxes.

RIO DE JANEIRO, BRAZIL - According to the organization, the nominal tax rate on companies that calculate their taxable income using the "real profit" system for calculating taxes, i.e. book accounting profit less deductions and other adjustments, stands at 34 percent.

This is the worst index in a ranking of 18 countries directly competing with Brazil in the international market, according to an analysis based on KPMG's Online Tax Rates database, prepared by the industry confederation.

The document further shows that when total taxes and contributions collected by companies are measured as a percentage of profit, Brazil is among . . .

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