TITLE

High Taxes and Excessive Red Tape Fuel Brazil's Thriving Underground Economy

AUTHOR(S)
Selvanayagam, Ruban
PUB. DATE
September 2010
SOURCE
Brazzil;Sep2010, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the high taxes and excessive red tape have contributed to the growth of underground economy in Brazil. The large growth of the underground economy, it is stated, occurred as a result of the Plano Real between 1994 and 2004 where its share of gross domestic product (GDP) grew from 20.71 percent to 42.60 percent. The another reason for this growth is the excessive bureaucracy prevalent in the country.
ACCESSION #
65288775

 

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