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Business in São Paulo : Government exempts fees for opening companies for 60 days

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Business in São Paulo : Government exempts fees for opening companies for 60 days

Posted 2020-09-14

Governor João Doria announced that the number of publicly-held companies in the state in July broke a record, with 21,600 new CNPJs, a number 8% higher than that registered in the same month of 2019.

The governor also announced on the 24th of August that the opening of companies in the state will be exempted from state taxes for 60 days, from the 25th of August.

In this article we will explain how and why this new measure is very good news for local entrepreneurs that have been impacted by the economic crisis brought about by the global pandemic.

You’re planning to start a new business in Brazil and need advice to grasp all the benefits of this fees exemption in Sao Paulo  ? Feel free to contact our team of experts on the brazilian labour market.

Stimulating the economic recovery & entrepreneurial activity

The measure aims to stimulate economic recovery and entrepreneurial activity, the governor said at a press conference at Palácio dos Bandeirantes, the seat of the state government.

The companies classified as Limited (LTDA), Individual Entrepreneur by Limited Liability (EIRELI), Public Limited Company (S / A), Public Company, Individual Entrepreneur (EI) are exempt from opening fees at the Board of Trade of the State of SP (Jucesp). and Cooperative Society.

According to the state government, 21,688 companies were opened in July in SP, according to data from Jucesp. The number is 8% higher than that registered in the same month last year.

Increase in the volume of new companies openings in São Paulo

The balance between total open companies and the number of closed companies was also positive in July. The balance was 10.7 thousand companies open to more than closed companies. Between April and June, the balance had been lower than in the same months of the previous year. In July, the balance was 9% higher than last year

Of the total companies opened in July, 30% are from the trade sector, a category that leads the opening of new CNPJs in the state. The category of administrative activities and complementary services is in 2nd place, with 11.8% of the companies opened in the month, followed by professional, scientific and technical activities, with 11.6%.

Regarding the legal category of companies opened in July, 20% are individual companies, as individual microentrepreneurs.

 

Any question about creating a new business in Sao Paulo, or anywhere else in Brazil ? Need administrative or financial support to set-up and launch your local or international activity ? Our customer advisors will deal with you personally and give you exactly the right advice for your needs. 

Author's post: Europartner Accounting

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