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Brazil Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
207,353,391 (July 2017 est.)GDP (PPP)
$3.219 trillion (2017 est.)Largest economy in South America
GDP growth rate
0.7% (2017 est.)Low but recovering from a deep recession in 2015 and 2016
GDP (PPP) per capita
$15,500 (2017 est.)Low
Local currency
Brazilian Real (BRL)Weak currency dependent on commodity prices, it is recovering after a devaluation in the past 3 years
Financial stability (Public debt)
78.4% of GDP (2017 est.)High, especially considering the sharp increase in recent years (it was 50% in 2012)
Inflation
3.7% (2017 est.)Medium, stabilizing from high levels in 2016 (8.7%)
Language
PortugueseDepending on the area, Spanish, Italian, German and English are spoken
Corruption perception index (Source: Transparency International)
96/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
Indirect taxes are very complex and comprise three levels of taxation: Excise tax (IPI): federal level VAT (ICMS): state level Service tax (ISS): municipal level
Corporate Tax
15% corporate income tax (IRPJ) 10% surcharge is levied on the the profits exceeding 240,000 BRL (about 60,000 EUR) 9% social contribution on net income (CSLL)
Duties
Usually 10% to 20% (max 35%) on the import of goods in Brazil (the rates vary according to the product’s tariff code based on Mercosur Harmonised System (NCM/SH))
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