Avalara Brings Tax Automation to Brazil
Cloud-based tax compliance automation solution Avalara announced it will be expanding its operations in Brazil.
The expansion makes a great deal of sense for Avalara as Brazil leads the world in tax compliance complexity and governmental reporting requirements.
According to a report by PricewaterhouseCoopers, for example, the annual tax compliance burden for doing business in the largest South American country is approximately 2,600 hours -- more than eight times greater than for the United States or European Union.
"Avalara is delighted to grow our presence in Brazil, the largest economy in Latin America and the ninth largest in the world," said Scott McFarlane, Avalara co-founder and chief executive officer. "Today's news affirms our commitment to global expansion into one of the Top 10 economies in the world, and a market with enormous unmet need. We now have an excellent leadership team in place, and we look forward to serving the millions of companies doing business in Brazil by helping them automate the burden of transactional tax compliance."