Deloitte Belgium launches Brazilian Desk

Breaking down the complexities when doing business with Brazil
8 November 2011

Brussels, 8 November 2011 – Yesterday, Deloitte Belgium officially launched its Brazilian desk during a seminar held at Bozar in Brussels. The successful event welcomed, amongst others experts, of H.E. Andre Amado (Ambassador of Brazil to Belgium and Luxembourg) and H.E. Neiva Tavares (Ambassador Head of the Brazilian Mission to the EU), who provided key insights on the business relationship and developments between Brazil-Belgium and Brazil-EU to Belgian entrepreneurs. The dedicated Deloitte Brazilian desk team, consisting of Belgian and Brazilian experts, aims to break down the complexities that European companies face in doing business with Brazil - and vice versa.

The Brazilian desk key strengths involve helping multinational enterprises to implement cross-border investment and business structuring strategies, providing guidance and support on the multifaceted tax policies, advising on and managing operational risks associated with market entry, mergers and or acquisitions or in optimisation of existing operations.

Fernand Rutten, the Global Customs and Global Trade Partner at Deloitte, in charge of the Brazilian Desk, explains: "At Deloitte, we work hard to understand our client's needs, expectations and business. Deloitte in Europe and Brazil offers high-quality value added services in four main areas: tax, audit, consulting and financial advisory services. We serve international companies, large national enterprises, public institutions and the small and middle-sized enterprises to outline which of our wide range of services clients may best serve the needs and concerns surrounding particular transactions. The Brazilian desk brings together all the right elements and specialists and can in that way offer a tailored made approach and solution for clients seeking to do business in Brazil".

Investing in Brazil: beneficial but also burdensome – a need to expand the scope of traditional investment considerations

As the third-most-attractive country for future foreign direct investment (according to the World Investment Prospects Survey 2010) and in its preparation to stage the 2014 World Cup and the 2016 Olympics, Brazil is positioned as a dynamic and emerging player in global commerce. Brazil's government has opened its doors by relaxing trade barriers and encouraging foreign investments by offerings various incentives including taxation concessions, export and drawback incentives, and attractive financing options. Brazil exports and imports roughly 22% of its goods to and from the European Union. Brazilian and European companies certainly look to benefit from existing business relations and flourishing levels of cooperation.

According the World Bank's Doing Business 2011 survey, Brazil is ranked 127th among 183 economies in terms of the overall ease of doing business. Investing in and trading with Brazil is considered to be burdensome and difficult due to complex administrative procedures and costly for various reasons, namely:

Belgian companies seeking to do business in Brazil, need to expand the scope of traditional investment considerations; such as location, supply chain practicalities, financing needs and activities, business legislation, exchange control repatriation restriction and labour laws; in order to include existing and future trade incentives and or restrictions such as:

The Deloitte Brazilian Desk: helping businesses to trade successfully across Belgian and Brazilian borders

Driven by passion and innovation, Deloitte's Brazilian desk experts are dedicated to helping successful businesses trade across Belgian and Brazilian borders. The Brazilian desk has been working closely with the Brazilian and Belgian Embassies, including the Brazilian and Belgian Chambers of Commerce, to facilitate and encourage trade.

The Brazilian Desk is committed to being a strong advisor on doing business in Brazil by:

Celso Armando, Managing Director of JBS Toledo, a company from the JBS Group (world's largest beef producer), says: "I am very pleased with the commitment, attitude and performance of the Deloitte Brazilian Desk. Deloitte has been working alongside JBS Toledo identifying tax optimization opportunities which is supporting our growth strategy in Europe. In 2010, JBS finalized the acquisition of the Toledo Group in Belgium. Now working with the experts of the Brazilian Desk, I feel comfortable given that our business in being looked at different angles from a Brazilian and European perspective".