For most Brazilian entrepreneurs, maintaining a healthy business is a significant challenge. From the look of the current tax reports, this is linked to the fact that Brazil has high tax burdens that act as an impediment to businesses. Nevertheless, it is possible for entrepreneurs to handle this situation by involving the government. According to Flavio Maluf, a prominent entrepreneur who hails from Brazil, the government should address the tax burden by working on new policies that will accommodate different businesses at ago. Visit barbacenaonline.com to learn more.
As such, the Fiscal Incentive Laws offer companies the chance to spend part of the value of money they used to pay taxes towards more constructive projects. For instance, the funds can be directed to social, cultural or scientific research projects. Additionally, this money can be used on technological and health programs. Moreover, he adds that the tax law will be very instrumental in fostering the economic as well as the social development projects of the country.
Benefits of the Tax Law
While the tax incentive law could be very beneficial, it does not mean that business professionals should now avoid paying taxes. Besides, companies must spend some amount on the same responsibility just like in the past. What is more, the difference only lies in the amount and the differences uses it will have with the new tax law. The president of Eucatex breaks it further by stating that if the government approves this proposal, Brazil’s entrepreneurial industry will enjoy the benefits of a financial saving plan.
More into the Tax Law
Furthermore, it is critical to note that the country has local tax incentives for different localities. Additionally, this incentive policy granted to companies highly benefits the regions with the Manaus Free Zone being the most significant area that this law has impacted.
Describing Flavio Maluf
Flavio Maluf is highly revered as an entrepreneur following his input to the industry of business. First practicing in 1987, he has been working as the head of Eucatex for more than ten years. Moreover, he uses his expertise in marketing to identify with the society and emerging business professionals who aspire to make it in business. As such, he has always contributed to their lives through writing helpful articles. Follow: https://twitter.com/flavio_maluf