May 5, 2011

Eike Batista on the reasonable tax rates in Brazil

Countries like Brazil and Colombia have allowed the private sector to own national oil company or resource company assets. See, this is something people have to understand. The taxation, the government take, is very reasonable. In Brazil, the government take is 52%. In Angola, which is in Africa, it's 85[%]. So, it's really wealth creation for our shareholders.

~Eike Batista, chairman and CEO, EBX Group, CNBC interview, May 4, 2011

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