Brazil Launches Corporate Tax Incentives to Boost Investment

tendata blogTrade Trends News

ten data blog04-01-2024

brazil tax down,brazil decrease tax,brazil lower tax



Brazilian Vice President Geraldo Alckmin on Sunday unveiled government measures aimed at providing tax incentives to companies so they can buy new machinery and invest in transportation.


The measures are part of President Luiz Inácio Lula da Silva's plan to "re-industrialize" Latin America's largest economy, whose industrial output is still lagging behind pre-pandemic levels and is more than 18 percent below its 2011 high.


Lula's government has pledged to boost industrialization by incentivizing "green" projects such as flex-fuel and electric vehicles, renewable energy and biofuels.


The first measure, Alckmin told a news conference, is to issue an executive order establishing the "Mover" program, which reduces the income tax for transportation companies investing in new technologies, research and development.


Alckmin, who is also Lula's minister of development and industry, said the program will provide benefits totaling 3.5 billion reais ($721.34 million) next year, but will gradually increase until it reaches 4.1 billion by 2028.


"This will attract investment to Brazil," he said. "Our problems are low investment and low productivity. We need to take action to increase both."


The executive order means the program goes into effect immediately, but needs to be approved by Congress within four months.


Alckmin said Lula's second measure was a bill submitted to Congress proposing a 3.4 billion reais income tax credit for companies to upgrade their machinery, which he called an "accelerated depreciation program."


"We will stimulate the revival of Brazilian industry. Depreciation of equipment usually occurs over 20 years, and our goal is to accelerate it so that it happens in two years," the vice president said.


He added that there will be a "second phase" of the program in the future, without providing more details.


Alckmin said the loss of revenue associated with the tax incentives would be offset by import taxes, including those levied on electric vehicles imported from abroad.




Customs data contains a vast amount of information, and extracting relevant customer contact information can be time-consuming, with results not always meeting expectations. Is it truly the case, or is it because customs data is being used incorrectly, resulting in wasted effort and time?


Utilizing customs data for customer development can be achieved by precisely characterizing all buyers and their procurement systems in the target market. This allows for the quick identification of the most compatible customers, discerning their credit systems and procurement information, determining high-quality customers and profit margins, enhancing development efficiency, and improving overall effectiveness.


In customs data, one can observe the suppliers of buyers. Some of these suppliers are trade companies and also potential customers. In-depth analysis can be conducted on these trade companies, and key customers can be selected for focused development. Information such as buyer contacts, trade partners, procurement cycles, and purchase volumes can be obtained. While customs data may lack contact information due to being derived from bill of lading information, Tendata iTrader provides not only customs data but also business and internet data. This allows for the direct extraction of contact information and positions based on buyer names, making customer development through customs data seamless. (>>> Click To Get Free Access To Customs Data From 80+ Countries)


For new customer development using customs data, three strategies are available for consideration. (>>> Click To Get Free Access To Customs Data From 80+ Countries)



1. Establishing a Customer Database by Country: 

Building a customer database is akin to maintaining a work record. Start by using trade tracking features to compile a list of all customers in a country. Analyze each buyer's purchase volume, procurement cycle, product specifications, and supplier system. Finally, filter out 30% of the potential high-quality customers from this country and record them in your customer database, allowing flexible settings by country, time, customer name, follow-up steps, contact phone, email, contact person, etc. (>>> Click For Free Customer Development)



2. Establishing a Customer Database by Peer Companies: 

Have a clear understanding of the English names of peer companies (including full names, abbreviations, etc.). Use the global supplier network feature to gather all customers of these peers in the system. Analyze these customers based on purchase volume, procurement cycle, and product models. Finally, filter out key customers from your targeted peers and record them in your customer database. (>>> Click For Free Trial Application)



3. Identifying Newly Appeared Customers in Each Country: 

Utilize the trade search function to select a country, set date ranges, limit product names or customs codes, and check "latest." The search results will display high-quality customers that have recently appeared in that country during the specified time period. Since these customers are newly emerging, they may have unstable supplier relationships, requiring focused follow-up. Record these new potential buyers in your customer database. (>>> Click For Free Trial Application)


customs data,customer development



These three approaches for customer development using customs data can be implemented based on the actual needs of the company. Considering market conditions, industry characteristics, strategic requirements, etc., find a method that suits your preferences. The ultimate goal is to establish and organize a categorized archive of high-quality customers. Once suitable customers are identified, the next step is to make precise contact through various channels such as phone calls, email communication, online chat, etc.


Leave Message for Demo Request or Questions

We always appreciate your visit at tendata.com. We'd love to hear your suggestions, feedback & queries. Please contact us to schedule a demo or learn more about our services. We will respond to your query within 1 working day.

More Popular Blogs

These related articles may also be of interest to you

Geting Price

Global Trade Data Leader
Get Pricing
Demo
tendata
Free Demo
X

'Target Customer
'Acquisition & Intelligent
'Decision-Making

'Global Trade Marketing Intelligent'
Decision-Making SaaS Platform

Welcome Tendata · iTrader

Please fill in the infos to get free demo

Success!

A rep will contact you within 10 minutes to get your demo.If you need a faster answers around features, pricing, etcplease scan to add Whatsapp online customer service.

Scan the QR code or click here for immediate consultation.