RIO DE JANEIRO, BRAZIL - In Brazil's social-tax pyramid, the wealthier someone is, the higher the portion of income is exempt from taxation, according to Federal Treasury data.
A single Brazilian last year declared having received the sum of R$1.3 billion (US$250 million) in tax-free profits and dividends, according to public data released by the Federal Treasury.
This taxpayer is part of a group of 3,000 millionaires who, according to their own statements, have an annual income of R$150 billion, of which R$93 billion are tax exempt for individuals, because they are . . .
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