Only U.S. and Germany lose more revenue to tax havens than Brazil

NGO estimates that the country fails to collect US$14.9 billion per year with global tax abuse.

RIO DE JANEIRO, BRAZIL - Brazil is the third biggest revenue loser in the world in absolute terms with the transfer of profits of multinational companies to tax havens, behind only the USA and Germany, according to Tax Justice Network, an NGO specialized in tax issues.

As it is second only to the Americans and Germans, Brazil has the position of losing more revenue than any other country outside the group of rich nations, says Alex Cobham, director-general of the NGO.

This situation should change with a global tax agreement under negotiation at the Organization for Cooperation and Development (OECD . . .

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