By Fernando Jaspe*
Tax benefits for automakers installed in Brazil's North, Northeast, and Center-West regions cost the federal coffers about R$5 billion per year and, contrary to what was promised, do not promote regional development.
In effect for over two decades, the billionaire tax waiver - paid for by the remaining Brazilian taxpayers - has had a low socioeconomic impact, generally restricted to a few municipalities, and failed to decentralize the country's automotive industry.
These are the main conclusions of a joint audit conducted by the Federal Audit Court (TCU) and the Office of the Comptroller General (CGU . . .
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