The federal republic of Brazil is one of the most blessed nations with a huge land mass and a big population. It is the fifth largest country in the world with a population of more than 190 million people. Agriculture forms the backbone of the Brazilian economy and it accounts for more than 5 percent of the country’s GDP. It is leading producer of coffee, sugarcane, and tropical fruits. The country also has one of the most diverse manufacturing industries in the entire world. They are top producers of textiles, automobile parts, electronics and consumer durables among other products.
Therefore, the Brazilian economy generates a lot of interests for governments, investors, and corporations across the world. However, unfamiliarity with the country’s economic culture may cause investors to step back. The countries tax system is also considered cumbersome and one of the most complex tax structures in the world.
Many businesses are finding it hard to thrive in the country due to the huge tax burdens. But as Flavio Maluf, an established businessman reports, Brazilian businesses can now have a sigh of relief. The Brazilian government continues to amend its laws to make the business environment favorable for both local and international businesses operating in Brazil.
According to Flavio Maluf, the proposed Fiscal Incentive Laws can greatly benefit businesses if they are used correctly. The proposed tax law allows Brazilian companies to choose one or several community projects that they can support. A project could be in the area of technology, science, and research, social or economic project.
So, instead of paying certain taxes directly to the government, a company can support one or more projects in areas where they operate. It, therefore, means that companies will be associated with the projects that they sponsor. This will help the government to spur economic and social progress in the country while companies will benefit by building their reputation. Read more about Flavio Maluf at Blog do Ronco
About Flavio Maluf
Flavio Maluf is an influential Brazilian businessman who currently serves as the president of Eucatex. He graduated with a bachelor’s degree in mechanical engineering but decided to pursue a career in entrepreneurship. He was born into a wealthy and political family but went ahead to build his empire. His company deals with the supply of high-quality wood materials and environmental conservation.
More information here: https://www.crunchbase.com/person/flavio-maluf