By Lisa Flueckiger, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL - Bureaucracy in Brazil is so widespread and extensive that a term was created to denote the difficulties and delays businesses face in the country, 'custo Brasil' (Brazil Cost). A new study by the World Bank confirms the efficiency problem, showing that Brazilian companies need fifteen times longer to pay tax authorities than their European counterparts.

Businesses in Brazil spend on average 2,600 hours on filing their Subscribe to our Premium Membership Plan. Already Subscribed? Login Here