TAX BURDEN
Brazil's tax system -- larded with red tape and Byzantine rules -- has long drawn criticism from business people and economists. Steelmaker Gerdau (GGBR4.SA), for example, employs about 200 people to handle its taxes in Brazil, compared with one part-timer in Canada, headquarters of the company's North American operations.
Reforming that sometimes-antiquated system has been a perpetual agenda item for Brazil's government, although results have been few.
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