Flavio Maluf’ justification about the importance of tax incentives to promote the economic and social development
Flavio Maluf is one of the people who is regarded to be very important when it comes to the economic and social development of Brazil. He is the president of Eucatex Company and Grand food. He came from a well up family where his father was a politician as well as a prominent business person. His uncle too was the president of the Eucatex Company which was their family business. Flavio Maluf started working in the trade area of the company when he was still a young man after which he went to Armando AlvaresPenteado Foundation where he attained his undergraduate degree in Mechanical engineering. After graduating, his family including his uncle decided to hand him the leadership of the company as the president where he served until today. View Maluf’s profile on linkedin.
Eucatex Company has been experiencing rapid growth and development under his leadership which has made him be named among the best entrepreneurs in the country. Besides, due to his success as a business person, he has been taking his time to motivate other entrepreneurs including the government on how to achieve success in their business operations. The main aim of the government’s revenue and expenditure is to improve the economic and social status of the country. Flavio Maluf stands to talk about how the government should promote the development of the country by offering companies tax incentives for them to be In a position to contribute profoundly to economic growth and development of the country.
In his report about this, he talks about various types of tax incentives. One of the tax incentives that he talked about is regional tax incentives. These are meant for companies that reside in specific areas. The main aim of these incentives is to enable the companies to contribute to the development of particular regions that are said to be underdeveloped. This is because the companies will use the money that they would have paid as tax to the government to increase the living standards of people living in such regions such as the Western Amazon.
Another tax incentive is given to some companies that operate in certain areas of operation. The tax incentives are meant to promote their growth that will, in turn, lead to economic development through the creation of job opportunities among others.