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In Brazil, Concentration of Wealth May Be Even Greater Than That of Income

RIO DE JANEIRO, BRAZIL - It happened about two months ago in the state of São Paulo: the wife and children of a billionaire family received donations from the patriarch - still alive - in the amount of R$48 billion and did not pay any taxes.

The procedure is known among tax lawyers: remittances in kind or disguised as capital contributions are made to companies in tax havens to then return to the country in the form of donation of these companies' shares to heirs. As a result, the family averted paying R$2 billion of state tax on donations and . . .

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