From The Economist:
Brazil’s impostômetro (taxometer) hit one trillion reais ($582 billion) 35 days earlier this year than in 2010. Brazil’s tax take is going up, thanks to a booming economy, crackdowns on evasion and inflation pushing people into higher brackets. But public services remain poor: roads are potholed, airports are crowded and pupils learn less than in many places with lower taxes.

So it is no surprise that the public sector is Brazil’s weakest point in the World Economic Forum’s latest Global Competitiveness Report, released on September 7th. Its government is the seventh most wasteful spender. Its regulatory burden is the heaviest, and its taxes are the most complex. According to the World Bank’s “Doing Business” report, medium-sized Brazilian firms spend 2,600 hours a year paying taxes—over twice as long as the next-slowest country and nearly ten times the average.

Full article here.

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