Flavio Maluf heads Eucatex companies as the president. According to a research, one of the challenges facing the entrepreneurs in Brazil is the high tax rates. Flavio Maluf points out that the use of tax incentives by the government can encourage the growth of the existing businesses and attract new ones. One of the laws that are meant to change the situation is the Fiscal Incentive Law.
The law proposes that part of the money be channeled towards certain specified areas in the economy. According to him, this has a positive change in the economy. The tax compliant companies are likely to boost their image as they make a direct impact on the society. The move may help to reduce the costs of promoting the company’s products. Read more about Flavio Maluf at Blog do Ronco
The government may give tax incentives to certain regions in a country to attract more investments in the area. The other kind of incentives is to specific sectors in the economy. For example tax incentives for manufacturing firms can be used to promote the industry.
The Eucatex president points out that firms that intend to enjoy the tax incentives must pay taxes based on their actual income. He was asked to join the Eucatex Group by his uncle in 1966. After one year, he was unanimously promoted to become the president.
He attributes his success to his dedication and persistence to pursue his goals. Even though he was born and raised in a wealthy family, he worked hard to become financially independent. Today, he is one of the most successful businesspeople in the world.
He has a degree in Mechanical Engineering from Armando Alvares Penteado Foundation. He still had the passion for doing business. From 1997, he was tasked with managing the family business. Flavio Maluf advises new entrepreneurs to do due diligence before making investments in a certain area.
He believes that a business will only grow due to the owner’s input and urges businesspeople to give their enterprises the attention that they deserve. Unlike what many entrepreneurs say, the Eucatex president believes that there are many sources of funds nowadays and advises them to start with ventures that do not require much capital.