Abilio Diniz asks the government not to hinder companies
Amid the celebrations of Sadia's 70th anniversary, the chairman of BRF, Abilio Diniz, criticized Provisional Measure 627, converted into Law 12,973, and said the government must stop hindering companies. “We only hope that the government will not interfere. What we need are clear rules and no changes in the middle of the game," he said.
The measure changes the way companies with overseas production are taxed. According to the text, every Brazilian company that produces outside the country needs to assess profit by means of a national subsidiary, and to be taxed domestically.This means that foreign income will be taxed according to Brazilian regulations, whose rate can reach 34% of gross profit.