Why Latin America is “Tax Hell”

I asked some small business owners in Mexico about paying taxes. They said that they don't pay taxes, they pay the cops.

In mexico there is a criminal tax called "Derecho de piso" that is when you establish a small business and suddenly criminals come to you and demand a payment to do business in that area, otherwise you risk to be killed or your business destroyed. Fortunately it doesn't happen everywhere. But many successful business owners have died because of that.

In Brazil our economy minister is called TAXAD!

Brazil I don’t know I’m living in Canada 🇨🇦 and there is tax on tax on tax on tax on tax every penny here in Canada is taxed the worst country in the world is here under Trudeau.

As a Brazilian, here are some of the atrocities that happen here. - Want a new vehicle? Around 38%~ of its value is taxes. Not to mention gas prices come with its own taxes as well, varies per state (but its around 30%) Oh, you want to drive your vehicle? Pay IPVA (Motor Vehicle Property Tax) and the licensing on your vehicle YEARLY.(again, varies per state, IPVA is between 1-4% of the vehicles VALUE.) - If you live anywhere but under a rock, you need to pay a Tax on Urban Property and Territorial Property (IPTU), which varies depending on your state, can go as low as 0.6% or 1.4% of the property value. There is also one for Rural areas, but it's essencially the same thing. - Recently the government approved a law that taxes imported products by a ludicrous 92%, if said product goes above a $50 threshold. (they also want to get rid of this threshold, so anything is taxed). The Olympics are happening right? One gymnast won R$826k (U$145k~) from the Brazilian Olympic Commitee, she needs to pay 27.5% of her earnings as income tax (R$227k, or U$40k) I just scratched the surface, theres PLENTY more where all of those came from.

You don't need a bank account in Bosnia, it's cash only 😂

In regards to rule of law Latin America is particularly terrible. In Brazil in particular it is a nightmare, you never known what is coming next.

I am brazilian! Here we work from 1 january till 27 may only to pay taxes. Umbeliaveble but true. Everything you buy have taxes over taxes.

Brazil is such a nightmare when talking about taxes. We pay so much money in taxes and we have absolutely no return from the government. The quality of public services is just getting worse every year. No surprise so many people are leaving the country. 😕

absolutely true, BRAZIL is the bottom of that.