RIO DE JANEIRO, BRAZIL - A survey conducted by BDO Consulting disclosed how much taxes consumers pay when buying a brand new car. The tax burden in Brazil can represent up to 43% of the vehicle's value.
According to the data, a vehicle with up to 1 liter engine (1.0) may have 36.53% of its final price made up by taxes. For cars between 1.0 and 2.0 liters, this figure reaches 43.13%.
The BDO study was conducted in early 2021, therefore, even before the São Paulo state government established an increase of the ICMS . . .