International tech platforms pay 76% less taxes than other companies in Brazil
Technology giants pay 76% lower taxes on profit than other companies in Brazil, points out a survey based on data from the Federal Revenue Service. The research was led by the Federal Deputy João Maia. The study concludes that companies like Google and Facebook pay Corporate Income Tax and Social Contribution on Income that only correspond to 4.4% of their net income. For other national tech companies, corporate taxes and social contributions reach 19.1% of their net income. International technology companies together have a market value that is 2.5 times of the Brazilian Gross Domestic Product, but they employ little in the country and collect less than other companies. In addition to being fiscally unfair, this creates unfair competition, according to the congressman who led the survey.