DIFFERENCES BETWEEN TAXABLE INCOME AND ACCOUNTING PROFIT OF BRAZILIAN COMPANIES WITH OPEN CAPITAL

• Autor(a) principal: Machado, Melina Carneiro
• Data de Publicação: 2012
• Outros Autores: Nakao, Sílvio Hiroshi
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Universo Contábil
• Texto Completo: https://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/2548
• topic: Book-tax diferences. Planificación fiscal. Book-tax conformity. Ley n° 11.638/2007.; Contabilidade para o usuário externo; Contabilidade Tributária; Pesquisa Contábil.

The purpose of this research is to analyze if during the years from 1994 to 2007, period in which there were no tax neutrality, the accounting standards met the interests of investors and tax authorities, despite the existence of mechanisms of earnings management and tax planning available to managers. To do so, this study aimed at determining whether the taxable income disclosed by the Brazilian companies with open capital was significantly higher than the earnings before taxes (EBT), being both variables standardized by total assets of each company in the respective year. Financial statements provided by the software Economatica were used for Brazilian companies listed in the BM&FBovespa, with the exception of banks, whose income tax rate is different from companies in other sectors. Performing the non-parametric test U of Mann-Whitney, the conclusion was that in the analyzed period the average taxable income was significantly higher than the EBT average, both weighted by total assets. Thus, despite the opportunistic attitude of managers, the accounting rules for investors and tax authorities have met their respective economic interests. By separating companies into two groups according to their size, it is concluded that smaller firms have worse tax planning than larger companies. When the separation was done according to the median of taxable income, it was noticed that companies below the median have smaller taxable income than their EBT, which can be explained by a better tax planning or yet by a higher use of previous tax losses.