Parcelamento de tributos federais: uma análise sob a ótica da estrutura de capital das empresas com negociação na B3

• Autor(a) principal: Oliveira, Denis dos Reis
• Data de Publicação: 2020
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Repositório Institucional da UFU
• Texto Completo: https://repositorio.ufu.br/handle/123456789/28995; http://doi.org/10.14393/ufu.di.2020.327
• topic: Parcelamentos; PERT; Passivos Tributários; Estrutura de capital; Installments; Capital structure; Tax Liabilities; CNPQ::CIENCIAS HUMANAS

The special installments, instituted by the Brazilian government at the beginning of the 21st century, served as an alternative not only to increase revenues for government entities, but also to reduce corporate debt with the tax administration. These installments allowed the negotiation of high tax liabilities and settlement of pending taxes, in addition to raising several legal discussions. In this sense, this study analyzed the financial indicators and the capital structure determinants of companies trading in B3, differentiating those that adhered to PERT from those that did not, and this analysis was performed through the theory of trade-off and the structure of capital of these companies. Thus, we sought to answer the following question: Has the Special Tax Regularization Program (PERT) influenced the financial indicators and the capital structure determinants of Brazilian companies trading on B3? For this study was chosen the hypothetical-deductive method, where the problem and conjecture are tested by observation and experimentation, it is still possible to state that this research as Quantitative-Descriptive character, relying on bibliographic and documentary data collection and statistical procedures. , such as variance analysis, Shapiro-Wilk data normality test, Wilcoxon-Mann-Whitney test for unpaired samples, ANOVA, Kruskal-Wallis and Dunn post-hoc. The study analyzed 308 companies, and found that 37.34% of them adhered to the PERT - Special Tax Regularization Program, and that with 10% significance for the Wilcoxon-Mann-Whitney test, companies adhering to PERT demonstrate capital. higher third party and tangibility, and lower income tax payment level than non-program companies. It was also observed, through Dunn's post-hoc, that for the short-term debt indicator there is a decrease from 2016 to 2018, while for non-current assets immobilization and income tax payment level there is a significant difference from 2016 to 2018, however without significant difference from 2016 to 2017.