ABVCAP in talks to cut taxes for venture funds


brazil flag 10_sqAssociação Brasileira de Private Equity & Venture Capital (ABVCAP) is reportedly in talks with the Brazilian government and lawmakers to cut taxes for venture capital funds.

The industry body is looking to agree on a tax framework that will stimulate investment in the country’s venture capital industry, said ABVCAP president and Carlyle managing director Fernando Borges.

The plan would reduce taxes for venture capital funds the longer they keep their investment in the enterprise, said Borges.

Earlier this month ABVCAP chairman Clovis Meurer told AltAssets that Brazil’s growth trajectory had levelled off in the past two years and it was struggling to that of its BRIC peers.

He said that Brazil’s fundamentals remain solid and continue to prove attractive to those investors that truly understand the region’s opportunities.
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