Tax Scandal May Cost Brazil Billions in Revenues

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – With the country still reeling from the corruption scandal in one of its largest and most important companies, oil giant Petrobras, Brazilians are now faced with a new financial scandal, this time occurring in a government agency (CARF) responsible for fines levied by Brazil’s Internal Revenue Service.

According to the country’s Federal Police, the kickback scheme may be much bigger than the Petrobras one, costing the country . . .

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