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Tax evasion in Brazil reached up to US$110 billion in 2020, says study

RIO DE JANEIRO, BRAZIL - Tax evasion in Brazil was between R$460 billion and R$600 (US$110) billion in 2020, according to a study released on Wednesday, 10, by the Retail Development Institute, IDV, with the support of consultancy firm McKinsey & Company and law firm Mattos Filho.

Called Study on Informality in Retail, the material with data from 2020 was the fourth conducted by McKinsey and the third in partnership with IDV - the previous studies were in 2004, 2014, and 2019.

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