Has a precedent been set in Brazil? Brazilian airline management have accused the government there of losing the plot after a decision by Brazil’s tax authority to list Ireland as a tax haven, which will equate to about 1 billion reais (€273.7million) in new taxes on aircraft leases over ten years. In Brazil some 60% of aircraft on lease are registered in Ireland. Brazilian carriers will now have to pay 25% tax on transactions – the move wiped 12% off of Gol shares. Make no mistake, this is a hammer blow to Brazilian airlines and it is a blow to

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