This report highlights recent economic, legal, and tax developments in Brazil's changing business environment, with content provided by experts at major accounting and law firms in the region.

This report highlights recent economic, legal, and tax developments in Brazil's changing business environment, with content provided by experts at major accounting and law firms in the region.

This reference source provides guidance on tax and legal issues investors should consider when evaluating a possible company acquisition, starting a business, or entering into a joint venture or strategic alliance in Brazil.

Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

The excessive complexity and burden of the Brazilian tax system, riddled by cumulative indirect taxes and heavy payroll contributions, have led to an accumulation of fiscal incentives aimed at reducing its burden on taxpayers and productive activities. Federal and subnational tax expenditures currently stand at over 5 percent of GDP. Rationalizing them can only be comprehensively feasible in the context of a broader sequenced tax reform, and could reduce resource misallocation and income inequality, as well as provide new revenues.

The wave of liberalization that swept world markets in the 1980s and 90s altered the ways that governments manage their economies. Reinventing State Capitalism analyzes the rise of new species of state capitalism in which governments interact with private investors either as majority or minority shareholders in publicly-traded corporations or as financial backers of purely private firms (the so-called “national champions”). Focusing on a detailed quantitative assessment of Brazil’s economic performance from 1976 to 2009, Aldo Musacchio and Sergio Lazzarini examine how these models of state capitalism influence corporate investment and performance. According to one model, the state acts as a majority investor, granting the state-owned enterprise (SOE) financial autonomy and allowing professional management. This form, the authors argue, has reduced many agency problems commonly faced by state ownership. According to another hybrid model, the state uses sovereign wealth funds, holding companies, and development banks to acquire a small share of equity ownership in a corporation, thereby potentially alleviating capital constraints and leveraging latent capabilities. Both models have benefits and costs. Yet neither model has entirely eliminated the temptation of governments to intervene in the operation of natural resource industries and other large strategic enterprises. Nevertheless, the longstanding debate over whether private ownership is superior or inferior to state capitalism has become irrelevant, Musacchio and Lazzarini conclude. Private ownership is now mingled with state capital on a global scale.

Here is practical advice for anyone who wants to build their business by selling overseas. The International Trade Administration covers key topics such as marketing, legal issues, customs, and more. With real-life examples and a full index, A Basic Guide to Exporting provides expert advice and practical solutions to meet all of your exporting needs.

Does allowing people to own or carry guns deter violent crime? Or does it simply cause more citizens to harm each other? Directly challenging common perceptions about gun control, legal scholar John Lott presents the most rigorously comprehensive data analysis ever done on crime statistics and right-to-carry laws. This timely and provocative work comes to the startling conclusion: more guns mean less crime. In this paperback edition, Lott has expanded the research through 1996, incorporating new data available from states that passed right-to-carry and other gun laws since the book's publication as well as new city-level statistics. "Lott's pro-gun argument has to be examined on the merits, and its chief merit is lots of data. . . . If you still disagree with Lott, at least you will know what will be required to rebut a case that looks pretty near bulletproof."Peter Coy, Business Week "By providing strong empirical evidence that yet another liberal policy is a cause of the very evil it purports to cure, he has permanently changed the terms of debate on gun control. . . . Lott's book could hardly be more timely. . . . A model of the meticulous application of economics and statistics to law and policy."John O. McGinnis, National Review "His empirical analysis sets a standard that will be difficult to match. . . . This has got to be the most extensive empirical study of crime deterrence that has been done to date." Public Choice "For anyone with an open mind on either side of this subject this book will provide a thorough grounding. It is also likely to be the standard reference on the subject for years to come."Stan Liebowitz, Dallas Morning News "A compelling book with enough hard evidence that even politicians may have to stop and pay attention. More Guns, Less Crimeis an exhaustive analysis of the effect of gun possession on crime rates."James Bovard, Wall Street Journal "John Lott documents how far 'politically correct' vested interests are willing to go to denigrate anyone who dares disagree with them. Lott has done us all a service by his thorough, thoughtful, scholarly approach to a highly controversial issue."Milton Friedman