Business · Economy · 5 hrs ago

Brazil’s industry group proposes reforms to cut business costs

Brazil’s industry group proposes reforms to cut business costs

Brazil’s National Confederation of Industry wants reforms to reduce costs that make it harder for companies to compete.

The group says the so-called Custo Brasil, or “Brazil Cost,” amounts to about R$1.7 trillion a year, roughly 20% of the country’s economy.

It includes burdens such as high taxes and interest rates, bureaucracy, weak infrastructure and legal uncertainty.

In a survey of 1,002 industrial business owners, 70% named taxes as the main problem, while 62% cited difficulty finding qualified workers.

77% said these costs raise product prices, and the group says consumers bear part of the burden.

The confederation supports Brazil’s approved consumption-tax reform, now being implemented, and also wants lower company-profit tax rates and simpler tax rules.

Its wider agenda includes improvements to business financing, worker training, infrastructure and legal certainty.

1 source

Related

What people are saying

Léo de CastroCNI vice-president
We need to reduce the Brazil Cost to promote the competitiveness of industry and a more efficient business environment, stimulating Brazilian industry in both the domestic and foreign markets. This allows Brazilians to access cheaper products and improve their quality of life.
via Estadão