This paper analyses the use of some economic instruments for the environmental protection. It takes as its starting point the Spanish experience in terms of the measures used to influence environmental practices regulated under the corporate income tax and discusses two types of tax deductions relating to technological innovation: in R&D and in environmental investments. In a second moment, we compare the proposals to extend tax mechanisms that could be implemented in environmental policy and deserves to be highlighted in the Brazilian legislative scenario. Finally, we present a proposal of environmental tax benefit for Brazil in the ambit of corporate income tax based on the Spanish experience. Note that, the Constitution of the Federative Republic of Brazil recognizes the need for integration between the economy and new environmental requirements when establishes as principle of economic order the environmental protection. Therefore, the State is authorized to intervene in the economic domain through ecologically appropriate tax policies. In addition, the use of economic instruments for environmental purposes although it has diversified is insufficient; the environmental value taxation is more widespread at the level of federal states and municipalities; and regarding the taxes under federal jurisdiction, the environmental non-tax performance is weak and limited. Finally, it is important notice that state intervention in the economy is not sufficient to achieve a healthy environment and ecologically balanced environment for present and future generations. It is necessary to raise awareness among companies of their corporate environmental social responsibility and encourage them to increase the budget designated for the preservation of the environment.

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