RIO DE JANEIRO, BRAZIL - According to the Brazilian Institute of Planning and Taxation (IBPT), each Brazilian company needs to comply with an average of 4,626 tax rules, which include 51,945 articles with 121,033 paragraphs. The institute says that this is the equivalent of 6.5 kilometers of regulations.
"As a result of this amount of rules, companies spend some R$181 (US$33) billion a year to maintain personnel, systems and equipment to monitor changes in regulation," the IBPT study states.
According to IBPT, the cost is a result of the number of tax rules in Brazil . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here