Flavio Maluf, a businessman who is the head of Eucatex Group company. He started with the group before going to the industrial area. He worked until 1996. During that time, the president of Eucatex was Flavio Maluf’s uncle and he is the man that asked Flavio to join the executives of the company. It was in 1997 when Flavio Maluf took over the family business as the president, a position he still holds. Read more about FlavioMaluf at Wikipedia.
Many entrepreneurs have tried to maintain their business in Brazil to be live. What is killing most industries is high government taxes that they are facing. However, some tactics have been used and are helpful. At least some companies are breathing following the right direction. The case allowing them is the incentive taxes, as Mr. Flavio Maluf explains.
There is this proposal that is believed to help many businesses and known as Fiscal Incentive Laws. The law allows the companies to use some value they get to pay taxes to those projects that are contemplated by the legislation. The project may be cultural, social, technological, sporting, health programs and scientific research. For example, instead of the profit got going directly to the government as taxes, it can be used to bring development and some benefits to a society, reports Flavio. The major idea that is behind is to be able to foster Brazil’s social and economic development.
However, it is not that because there are tax incentives, then the industries will not be spending the amount that was embarked for taxes. What they do is to spend it strategically. This is why Flavio Maluf is emphasizing that the major advantage is to enable an organization gain a positive picture after it has associated its name with cultural, social or sports projects. It can do sponsorship. When there is a good strategy, then advertising finance is saved.
What should be understood is that regional tax incentives are also available. This is an incentive where the tax benefits are offered for some companies that are located in certain regions. As a country, Brazil has some greatest examples like Manaus Free Zone which was established in 1957. It has the objective of promoting development in the western Amazon.
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