Lax tax enforcement makes it easier for global e-commerce giants to enter Brazil, says BofA

"As cross-border trade grows, we anticipate greater and more organized opposition from Brazilian trade groups and government agencies," BofA says.

RIO DE JANEIRO, BRAZIL - Bank of America (BofA) commented in a report regarding the entry of global e-commerce giants into Brazil and how faster shipping and the difficulty of tax collection can be an opportunity or a threat to local businesses.

International e-commerce in Brazil grew 67% in 2019 after Brazil's Postal Service Correios and its Chinese equivalent allowed third parties to handle long-distance freight delivery in Brazil, dramatically reducing shipping times.

The following year, growth accelerated by 76%, according to consultancy Ebit Nielsen, reaching 21% of total e-commerce in the country at R$22 . . .

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