When it comes to talking about the main challenges that face various companies in Brazil, tax burdens can never be left on the list. This is because companies pay vast amounts of money to the government as tax making them unable to produce enough contributions to the social and economic growth of the country.
Flavio Maluf, the president of Eucatex Company, talks about the leading solution to the problem of tax burdens experienced by companies. He says that the government should consider giving tax incentives to companies which may be in the form of tax reductions, tax exceptions among others. This does not mean that the companies will have a lot of extra money to enjoy by having tax incentives. The primary objective of the tax incentives is to enable companies redirect the money that would have been given to the government as tax to the development of the community through various activities such as philanthropy, building of recreational areas, sports, sponsorship among other businesses that would promote and increase the living standards of residents in the country. Find out more about Flavio at barbacenaonline.com
Some tax incentives are given to companies in particular regions that are underdeveloped. For example, Manaus Fre Zone company which is located in the Western Amazon which promotion of its growth through tax incentives would help nit to build infrastructure in the region leading increase in the living standards of people living in that area.
Another form of the tax incentive is given to companies in some regions of operation or example the information and technology companies, companies dealing with infrastructure among others. The primary objective of the tax incentives to such companies is to promote their growth which will, in turn, lead to the increase of the economic and social status of the country through the creation of employment opportunities among other interventions.
According to Flavio Maluf tax incentives is one of the most crucial factors that the government should consider. Flavio Maluf is a successful business person with a bachelor’s degree from Armando AlvaresPenteado Foundation in Mechanical engineering. Due to this success and experience as a business person, he advises business people on the crucial tips to success which have made him a remarkable business icon in Brazil.