Brazilians pay record taxes in 2011

Brazilian Internal Revenue Service (Receita Federal) announced a new records showing that taxes are moving put with the economy. Dolar is stable and country risk is down but GDP prognostics for 2011 are decelerating. The first quarter of 2011 set a record for the period of R $ 311.349 billion. This amount represents a growthContinue reading “Brazilians pay record taxes in 2011”

Informal economy represents 18% of GDP in Brazil

Heavy taxes and a lot of bureaucracy. Those are the thoughts that came to my mind when I saw the latest FGV  estimate; Brazil’s informal economy is R$578bn, or the equivalent to Argentina’s total GDP. The good news is that although sizeable, the statistic reveals a more formalized economy than in 2003, when 23% of GDP  was estimated to be informal.