King’s Brazil Institute Column
In the last twenty years there has been a 180-degree shift in the way Brazil is seen by the international community. Not only has the country established an active role in international affairs but it has also come to figure much more prominently in global flows of trade and investment.
Brazil is often depicted as an uncompetitive country with a high tax burden. It is an image that often scares away investors – particularly those who are not very well informed.
Silvia Fazio is CEO of WILL LATAM (Women in Leadership in Latin America), an NGO whose work includes sharing best practices aimed at closing the gender gap and promoting women in leadership roles, and assisting organizations in establishing careerdevelopment programmes for women. She is also a corporate partner at Chadbourne & Parke LLP, leading the Brazil desk at their London offices.
What was the original motivation behind the creation of WILL?
The OECD has taken major steps to reduce tax evasion by implementing the Common Reporting Standard (CRS), which employs the automatic exchange of account information of financial institutions between 100+ participating countries. The aim is to identify inconsistencies in tax declarations and move towards global tax transparency. During 2017, exchanges commenced between 49 “early-adopter” countries.
