Flavio Maluf – How to Reduce the Tax Costs of a Company
- Written by: RunningHate
- Category: Business, Businessman, CEO, Flavio Maluf
- Published: August 10, 2018
The economic crisis in Brazil in recent times is affecting many people, not only the employees, but also the bosses and their companies. Reducing costs is the way out – and there, among many other measures, thousands of layoffs enter the country, contributing to the high unemployment rate. However, we need to think about fairer and more efficient alternatives.
For businessman Flavio Maluf, managing taxes better is one of them.
In Brazil, companies usually pay up to 34% of taxes on the value of profit, but entrepreneurs know that considering issues such as labor costs, taxes, and other obligations, this figure reaches a much higher number. Whoever wants to survive the crisis needs to seek more profitability and run after reductions, starting with good planning. Learn more about Flavio Maluf on ideamensch
There are some ways for companies to reduce taxes, including:
The Tax Planning Itself
Executive Flavio Maluf explains that the main types of taxation are three – National Simple, Presumed and Real. The choice needs to be made accurately and consciously, through efficient analysis, to choose the best path.
In a tax planning, the analysis and the application of a collection of actions, according to the businesses, with the legal acts or with the situations, aiming to provide the reduction of the tax burden.
Pay Attention to Tax Recoveries
It is essential for companies to be attentive to the credits they are entitled to, says Flavio Maluf. Within the tax system, charges are often made in improper ways, this causes a considerable increase in the value of taxes. PIS / Pasep, ICMS, IPI, and Cofins are some tax payments that can be recovered and will contribute to reducing the tax burden.
It is recommended that a consulting company be hired to raise credits that may not have been considered in the calculation for each month due to the lack of an infralegal standard.
Investing in Tax Incentive Tools
Tax incentive tools are actions that contribute to the economic development of a region or particular industry. There are many forms of tax incentives, points out Flavio Maluf, as actions in sports and culture, and even laws that propose regional growth. This reduces the amounts to be paid, however, you need to be concerned with a specialist follow up.
Pay Attention to the Time of Framing the CNAE
Registering properly in government entities from the beginning of a company is a way to avoid paying for wrong taxes, or even to take future fines on account of the mistake. Choosing the National Classification of Economic Activities (CNAE) represents the tax burden that must be paid, and it is important to do it properly.
Try to Reduce APF
The Accident Prevention Factor (APF) is an instrument on health and safety at work. It is an index that represents a good part of the labor expenses of the companies, it can vary according to the number of occurrences and the branch of the business activity. However, Flavio Maluf points out that the values of this factor can be minimized. It is possible to request a review of the APF collection heat and try to reduce the costs of the company.