A Study of the Ownership`s Remuneration Through Tax Planning
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Data de Publicação: | 2012 |
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Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | RAM. Revista de Administração Mackenzie |
Texto Completo: | https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297 |
Resumo: | Reducing the cost of business through tax planning is recurring topic, both in academic research, as in business practice. This work aims to study the ownership`s remuneration of companies that pay income tax based on “Lucro Real”, namely the distribution of profits (dividend payments), interest on owner`s capital and pro-labor payment. Special emphasis was given to the pro-labor payment, modeled using actuarial mathematics, to incorporate the effect of shareholder’s post-retirement social security benefit, in the calculation of effective rates of the remuneration’s types. The effective rate is defined as the ratio between the amount actually paid to the government and the amount originally available for taxation. The effective tax rate should be considered by the actuarial present value due to the fact that some taxes have cash flow’s effects in different dates (payments, receipts and refunds) of the person or legal entity. Present value must be actuarial because, besides the financial discount rate that represents the opportunity cost of a second-best investment, it was considered, because the focus of tax planning to be in the wealth of the individual, the probability of the individual receiving the value in the future. In other words, one must consider the probability of the individual being alive at the moment will be entitled to receive the values. As a result, it was observed that the inclusion of actuarial discount on remuneration of partners significantly modify what can be considered as a cheaper or less expensive compensation. Contrary to what one might infer, interest on capital may not be the cheapest form of remuneration from the company (with 15% effective rate), but small amounts of payment of pro-labor (which have values ??up to 8.61% effective rate). |
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A Study of the Ownership`s Remuneration Through Tax PlanningUn Análisis de las Formas de Remuneración de los Miembros a Través de la Planificación FiscalUma Análise das Formas de Remuneração dos Sócios por Meio do Planejamento TributárioTax PlanningActuarial MathematicsDividend PaymentsInterest On Owner`S CapitalPro-Labor PaymentPlanificación FiscalMatemáticas ActuarialesDistribución De UtilidadesIntereses Sobre El CapitalPró-Laboreplanejamento tributáriomatemática atuarialdistribuição de lucrosjuros sobre capital própriopró-laboreReducing the cost of business through tax planning is recurring topic, both in academic research, as in business practice. This work aims to study the ownership`s remuneration of companies that pay income tax based on “Lucro Real”, namely the distribution of profits (dividend payments), interest on owner`s capital and pro-labor payment. Special emphasis was given to the pro-labor payment, modeled using actuarial mathematics, to incorporate the effect of shareholder’s post-retirement social security benefit, in the calculation of effective rates of the remuneration’s types. The effective rate is defined as the ratio between the amount actually paid to the government and the amount originally available for taxation. The effective tax rate should be considered by the actuarial present value due to the fact that some taxes have cash flow’s effects in different dates (payments, receipts and refunds) of the person or legal entity. Present value must be actuarial because, besides the financial discount rate that represents the opportunity cost of a second-best investment, it was considered, because the focus of tax planning to be in the wealth of the individual, the probability of the individual receiving the value in the future. In other words, one must consider the probability of the individual being alive at the moment will be entitled to receive the values. As a result, it was observed that the inclusion of actuarial discount on remuneration of partners significantly modify what can be considered as a cheaper or less expensive compensation. Contrary to what one might infer, interest on capital may not be the cheapest form of remuneration from the company (with 15% effective rate), but small amounts of payment of pro-labor (which have values ??up to 8.61% effective rate).Reducir el costo de los negocios a través de la planificación fiscal es tema recurrente tanto en la investigación académica y en la práctica empresarial. Este trabajo tiene como objetivo estudiar las formas de remuneración de los miembros de las empresas que pagan impuesto sobre la renta sobre las ganancias reales, es decir, la distribución de utilidades, intereses sobre el capital y el pago de favor de los trabajadores. Se hizo especial hincapié al pago de favor de los trabajadores, siguiendo el modelo por medio de las matemáticas actuariales, para incorporar el efecto de las prestaciones de bienestar social intertemporal que el accionista tiene derecho, en el cálculo de las tasas efectivas de las formas de remuneración. La tasa efectiva se define como el cociente entre el importe realmente pagado a una entidad pública y el importe inicialmente disponible para los impuestos. La tasa efectiva de impuestos debe ser considerada por el valor actuarial presente debido al hecho de que algunos impuestos tienen efectos intertemporales de los pagos, recibos y de las restituciones en el flujo de efectivo de la persona o entidad jurídica. Se llama valor actual actuarial porque, además de la tasa de descuento financiero que representa el costo de oportunidad de una segunda mejor inversión, se consideró, ya que el enfoque de la planificación fiscal estar en la riqueza del individuo, la probabilidad de que el individuo reciba el valor en el futuro. En otras palabras, hay que considerar la posibilidad de que la persona esté con vida en el momento que tendrá derecho a recibir los valores. Como resultado, se observó que la inclusión de descuento actuarial sobre las opciones de remuneración de los socios altera significativamente lo que puede considerarse como una remuneración más barata, o menos cara. Contrariamente a lo que se podría deducir, el interés sobre el capital no puede ser la forma más barata de remuneración de la empresa (con un 15% tasa efectiva), pero pequeñas cantidades de valor de pró-labore (que tienen valores de hasta 8,61% tasa efectiva).A redução dos custos de empresas por meio de planejamento tributário é tópico recorrente tanto na pesquisa acadêmica como na prática empresarial. Este trabalho tem como objetivo estudar as formas de remuneração de sócios de empresas que pagam imposto de renda pelo lucro real, a saber: distribuição de lucros, juros sobre capital próprio e pagamento de pró-labore. Ênfase especial foi dada ao pagamento de pró-labore, modelado por meio da matemática atuarial, de forma a incorporar o efeito intertemporal do benefício previdenciário a que o sócio tem direito, no cálculo das alíquotas efetivas das formas de remuneração. A alíquota efetiva é definida como a razão entre o valor efetivamente pago ao ente público e o valor originalmente disponível à tributação. A alíquota efetiva deve ser considerada pelo seu valor presente atuarial devido ao fato de que alguns tributos têm efeitos intertemporais de pagamentos, recebimentos e restituições no fluxo de caixa do ente pessoa física ou jurídica. Denomina-se valor presente atuarial porque, além da taxa de desconto financeiro que representa o custo de oportunidade de um segundo melhor investimento, considerou-se, pelo fato do foco do planejamento tributário estar na riqueza da pessoa física, a probabilidade do indivíduo receber o valor no futuro. Em outras palavras, deve-se considerar a probabilidade do indivíduo estar vivo no instante em que terá direito ao recebimento dos valores. Como resultado, observou-se que a inclusão do desconto atuarial nas opções de remuneração dos sócios altera significativamente o que pode ser considerado como forma de remuneração mais econômica, ou então menos custosa. Ao contrário do que se poderia inferir, os juros sobre capital próprio podem não ser a forma de remuneração mais barata da empresa (com 15% de alíquota efetiva), mas sim pequenos valores de pagamento de pró-labore (que apresentam valores de até 8,61% de alíquota efetiva).Editora Mackenzie2012-05-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPesquisa Teóricaapplication/pdfapplication/vnd.openxmlformats-officedocument.spreadsheetml.sheetapplication/vnd.openxmlformats-officedocument.spreadsheetml.sheethttps://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297Revista de Administração Mackenzie; Vol. 14 No. 2 (2013)Revista de Administração Mackenzie; Vol. 14 Núm. 2 (2013)Revista de Administração Mackenzie (Mackenzie Management Review); v. 14 n. 2 (2013)1678-69711518-6776reponame:RAM. Revista de Administração Mackenzieinstname:Universidade Presbiteriana Mackenzie (MACKENZIE)instacron:MACKENZIEporhttps://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297/4023https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297/8293https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297/8294Copyright (c) 2015 Revista de Administração Mackenzieinfo:eu-repo/semantics/openAccessGouveia, Fernando Henrique CâmaraAfonso, Luís Eduardo2015-06-25T00:07:03Zoai:ojs.editorarevistas.mackenzie.br:article/3297Revistahttps://editorarevistas.mackenzie.br/index.php/RAM/PUBhttps://editorarevistas.mackenzie.br/index.php/RAM/oairevista.adm@mackenzie.br1678-69711518-6776opendoar:2024-04-19T17:00:47.547549RAM. Revista de Administração Mackenzie - Universidade Presbiteriana Mackenzie (MACKENZIE)false |
dc.title.none.fl_str_mv |
A Study of the Ownership`s Remuneration Through Tax Planning Un Análisis de las Formas de Remuneración de los Miembros a Través de la Planificación Fiscal Uma Análise das Formas de Remuneração dos Sócios por Meio do Planejamento Tributário |
title |
A Study of the Ownership`s Remuneration Through Tax Planning |
spellingShingle |
A Study of the Ownership`s Remuneration Through Tax Planning Gouveia, Fernando Henrique Câmara Tax Planning Actuarial Mathematics Dividend Payments Interest On Owner`S Capital Pro-Labor Payment Planificación Fiscal Matemáticas Actuariales Distribución De Utilidades Intereses Sobre El Capital Pró-Labore planejamento tributário matemática atuarial distribuição de lucros juros sobre capital próprio pró-labore |
title_short |
A Study of the Ownership`s Remuneration Through Tax Planning |
title_full |
A Study of the Ownership`s Remuneration Through Tax Planning |
title_fullStr |
A Study of the Ownership`s Remuneration Through Tax Planning |
title_full_unstemmed |
A Study of the Ownership`s Remuneration Through Tax Planning |
title_sort |
A Study of the Ownership`s Remuneration Through Tax Planning |
author |
Gouveia, Fernando Henrique Câmara |
author_facet |
Gouveia, Fernando Henrique Câmara Afonso, Luís Eduardo |
author_role |
author |
author2 |
Afonso, Luís Eduardo |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Gouveia, Fernando Henrique Câmara Afonso, Luís Eduardo |
dc.subject.por.fl_str_mv |
Tax Planning Actuarial Mathematics Dividend Payments Interest On Owner`S Capital Pro-Labor Payment Planificación Fiscal Matemáticas Actuariales Distribución De Utilidades Intereses Sobre El Capital Pró-Labore planejamento tributário matemática atuarial distribuição de lucros juros sobre capital próprio pró-labore |
topic |
Tax Planning Actuarial Mathematics Dividend Payments Interest On Owner`S Capital Pro-Labor Payment Planificación Fiscal Matemáticas Actuariales Distribución De Utilidades Intereses Sobre El Capital Pró-Labore planejamento tributário matemática atuarial distribuição de lucros juros sobre capital próprio pró-labore |
description |
Reducing the cost of business through tax planning is recurring topic, both in academic research, as in business practice. This work aims to study the ownership`s remuneration of companies that pay income tax based on “Lucro Real”, namely the distribution of profits (dividend payments), interest on owner`s capital and pro-labor payment. Special emphasis was given to the pro-labor payment, modeled using actuarial mathematics, to incorporate the effect of shareholder’s post-retirement social security benefit, in the calculation of effective rates of the remuneration’s types. The effective rate is defined as the ratio between the amount actually paid to the government and the amount originally available for taxation. The effective tax rate should be considered by the actuarial present value due to the fact that some taxes have cash flow’s effects in different dates (payments, receipts and refunds) of the person or legal entity. Present value must be actuarial because, besides the financial discount rate that represents the opportunity cost of a second-best investment, it was considered, because the focus of tax planning to be in the wealth of the individual, the probability of the individual receiving the value in the future. In other words, one must consider the probability of the individual being alive at the moment will be entitled to receive the values. As a result, it was observed that the inclusion of actuarial discount on remuneration of partners significantly modify what can be considered as a cheaper or less expensive compensation. Contrary to what one might infer, interest on capital may not be the cheapest form of remuneration from the company (with 15% effective rate), but small amounts of payment of pro-labor (which have values ??up to 8.61% effective rate). |
publishDate |
2012 |
dc.date.none.fl_str_mv |
2012-05-30 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Pesquisa Teórica |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297 |
url |
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297/4023 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297/8293 https://editorarevistas.mackenzie.br/index.php/RAM/article/view/3297/8294 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2015 Revista de Administração Mackenzie info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2015 Revista de Administração Mackenzie |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/vnd.openxmlformats-officedocument.spreadsheetml.sheet application/vnd.openxmlformats-officedocument.spreadsheetml.sheet |
dc.publisher.none.fl_str_mv |
Editora Mackenzie |
publisher.none.fl_str_mv |
Editora Mackenzie |
dc.source.none.fl_str_mv |
Revista de Administração Mackenzie; Vol. 14 No. 2 (2013) Revista de Administração Mackenzie; Vol. 14 Núm. 2 (2013) Revista de Administração Mackenzie (Mackenzie Management Review); v. 14 n. 2 (2013) 1678-6971 1518-6776 reponame:RAM. Revista de Administração Mackenzie instname:Universidade Presbiteriana Mackenzie (MACKENZIE) instacron:MACKENZIE |
instname_str |
Universidade Presbiteriana Mackenzie (MACKENZIE) |
instacron_str |
MACKENZIE |
institution |
MACKENZIE |
reponame_str |
RAM. Revista de Administração Mackenzie |
collection |
RAM. Revista de Administração Mackenzie |
repository.name.fl_str_mv |
RAM. Revista de Administração Mackenzie - Universidade Presbiteriana Mackenzie (MACKENZIE) |
repository.mail.fl_str_mv |
revista.adm@mackenzie.br |
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