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Investor Presentaiton

32. Tax benefits 33. Insurance The Company and its subsidiaries have tax incentives within certain state and federal industrial development programs. The state programs are ai- med at attracting industrial investments seeking regional decentralization, promoting employment and income generation, besides complementing and diversifying the industrial matrix of the states. These fiscal incentives are approved by the states in the form of percentage financing of up to 75%, presumed credit with a percentage of up to 95% and deferral of the payment of taxes or partial reductions of the amount due for imports of assets and inputs. The Company and its subsidiaries maintain civil liability policies for executi- ves and directors, in addition to insurance coverage for equity risks and loss of profits. Such policies have coverage, conditions and limits, considered by Management to be adequate to the inherent risks of the operation. 187 =
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