46% of Micro and small industries are very negative with the end of the year

Micro and small industries are pessimistic with the end of this year. For 46% of the companies in the sector, the trend is worse in business compared to the same period in 2019. The data integrates the new research of the Micro and Small Industries Union of Sao Paulo State. In relation to the previous survey, there was an increase of pessimism. On the research conducted 15 days before the current one, 41% of the companies projected a worsening of business in relation to 2019.

Souce: G1

Brazil loses $83 bn per year with tax fraud

Brazil fails to collect more than R$ 417 billion ($83 bn) per year in taxes, due to company evasion. A survey made by IBPT shows that the invoice not declared by the companies is $2.33 trillion ($466 bn) per year. According to the survey, the ICMS was the most tax evasion in 2018. In 2019, the income tax evasion exceeded the ICMS. IBPT has discovered that 47% of the small companies evasion tax. The tax among the medium companies is 31% and among the big companies it is 16%.

Source: Money Times

Pandemic fight has cost $120 bn so far, says Guedes

The primary impact of measures to combat the pandemic on public accounts so far is R$599.5 billion ($120 bn), said Economics Minister Paulo Guedes. The amount, according to Guedes, is equivalent to 8.5% of GDP. Of the total expenditures, R$ 321 billion ($64 bn) were destined to the payment of emergency aid, according to the minister. “Precisely to save the lives of the invisible,” he said.

Source: Valor Investe

Government injected $36 bn in state-owned companies in 10 years

The federal government has injected R$182 billion ($36 bn) in capital contributions in non-dependent state-owned companies or in subsidies for dependent state-owned companies between 2011 and 2020. Dependent state-owned companies received R$146.5 billion ($29 bn) in transfers to cover personnel and general expenses. Non-dependent state-owned companies, which generate their own revenues, got R$35.4 billion ($7 bn) in government capitalisation.

Source: Valor International

Tourism advances 7% in October and has 6th month followed by recovery

the sector most affected by the pandemic, tourism is beginning to recover. According to IBGE data, tourism activities expanded 7.1% in October, compared to September. In six months, the sector has already advanced 102.6%. Despite the good news, the scenario is still difficult for the sector. The activities related to tourism still need to grow 54.7% to return to the level of February, last month before the outbreak of covid-19.

Source: 6 Minutos