Seizure

July 6, 2012 - 2:40am

Brazilian tax authorities, police and aviation officials seized nine business jets late last month and have targeted 13 more. Allegedly, Brazilians own and use the jets but registered them overseas to avoid state and federal taxes of nearly 35 percent. The value of the jets, $275 million, is almost equal to the country’s total customs seizures last year. Foreign aircraft can legally remain in Brazil for up to 60 days annually without paying import duties.

 
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