“Brazil has invested 25.8 billion reais ($11.3 billion) in - TopicsExpress

“Brazil has invested 25.8 billion reais ($11.3 billion) in Cup-related infrastructure improvements, a third of which went into building or overhauling stadiums in a dozen host cities.“ reuters 5 June 2014 The FIFA World Cup bidding process places a requirement on host countries to give “a comprehensive tax exemption to …. FIFA and further parties involved in the hosting and staging of an event.” The exemptions included freedom from corporate tax, income tax, VAT, excise duties, local tax, and any other taxes, no matter what other tax laws might require. Brazil’s Internal Revenue Service has estimated that the exemptions will cost the country USD $248.7 million in lost revenue (other guesses are twice as high). Forbes forbes 16 June 2014 On what basis does FIFA justify asking for tax-free status? What morality takes such money out of a Brazilian economy that desperately needs investment in housing, health and education? Shameful.

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