Flavio Maluf says that Brazil’s corporate income tax rate is so high that many entrepreneurs find it difficult to maintain a “live” business in Brazil. In fact, Brazil’s corporate income tax rate is among the highest in the world, the third highest in the world to be precise (34 percent). The United Arab Emirates has the honor of having the highest corporate income tax rate in the world (55 percent), followed by India (35 percent). Brazil’s high corporate income tax rate can deter entrepreneurs from maintaining a “live” business in Brazil. There are, however, Fiscal Incentive Laws enacted to encourage the development of business activities in the country, while at the same time promoting the economic and social development of the country. Read this article about Maluf at dino.com
Tax incentive programs comes in the form of sponsorships of social, cultural, or sports project. Sponsoring such projects allows companies to gain a positive image through nominal association with the sponsored projects. An additional benefit of sponsoring projects is that the gain in company recognition means that the company can spend less money on its advertising. In addition, there are also regional tax incentives available to prospective settling businesses to encourage businesses to settle in certain regions. Moreover, public administrations offer tax incentives, such as tax reduction, exemption, and compensation, to companies within certain sectors to stimulate a particular industry or particular economic activity.
Flavio Maluf is the Chief Executive Officer and President of the Euxcatex Group and began his employment with the company in the year of 1987. The Euxcatex Group was founded in 1951 and is in the business of producing various items used in the construction industry. These items include doors, flooring, insulation, panels, plastic and plant-based lining, paint, wood varnish, and partitions and building walls for pre-fabricated construction. The Euxcatex Group exports its products to 40 countries across the globe.