With heavy taxation posted on businesses in many countries, keeping up with “live” businesses has become a tussle for many entrepreneurs. Nevertheless, new upcoming tactics can rekindle the hope of companies. It is, therefore, true that there is light at the end of the tunnel. Such rejuvenating expedients include tax incentives as outlined by the president of Eucatex Companies, FlavioMaluf. According to this business guru, the Fiscal Incentive Policy remains a backbone in fostering the social and economic advancement of a country.
How will Fiscal Incentive Laws Benefit Companies?
FlavioMaluf, in his scrutiny, outlines that the proffered Fiscal incentive presents to companies a shot to channel a portion of the value they remit in taxes to projects proposed by these legislations. Such projects include sporting, cultural, scientific research, social, health programs and technological advancement in the country. In so doing, the money will not straightly be sent to the government. Therefore, the tax will be directly used in funding society projects that will have rippled benefits. As a result, the companies will gain more acceptance as their impact in joining hands in societal growth will be seen and appreciated. View crunchbase.com to learn more
Nonetheless, Flavio Maluf states that the proposed tax incentive does not mean that companies are not going to spend the sum of money that would be earmarked for taxes. Instead, the money will be spent more strategically. Therefore, the veteran leader points out the primary benefit of the Fiscal Incentive law as cementing a good relationship between companies and the society as they take active projects through sponsorships. In his opinion, Flavio stresses that with proper planning, this will inform financial saving.
Regional Tax Incentives
Moreover, it is crucial to note that regional tax incentives can benefit companies in a specific region so as to enhance development in such zones. Also, public administration can grant tax incentives depending on the area of operation of a company. This is always with the aim of promoting a given economic activity or a specific industry. Examples of such tax incentives include exemptions, compensations and tax reduction among others. These benefits enable business enterprises to plow back the amount into more productive operations that will lead to the creation of job opportunities.
The Business Guru FlavioMaluf
It was in 1897 when Maluf began his career in Eucatex Group. Later on, he shifted to the industrial sector and joined the executive role. In 1997 he arose to the presidency of the business where he manages every aspect of the company. Until now, he holds that position.