ACCOUNTING AND TAXABLE INCOMES: EFFECTS OF TRANSITION TAX REGIME (RTT)

• Autor(a) principal: Mello, Helio Rieger de
• Data de Publicação: 2013
• Outros Autores: Salotti, Bruno Meirelles
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista de contabilidade e organizações
• Texto Completo: https://www.revistas.usp.br/rco/article/view/55517
• topic: lucro contábil; lucro fiscal; Regime Tributário de Transição - RTT; accounting income; taxable income; Transition Tax Regime (RTT).

Law 11.638/07 represents the beginning of convergence of Brazilian accounting practices towards international standards established by the International Accounting Standards Board (IASB) introducing significant changes, such as implementation of the principle of essence over form – in other words, the prevalence of an economic outlook on financial accounting – whereas a civil stance was adopted mostly for tax accounting, which conversely focuses on form.As the new accounting rules would have a positive, null or negative impact on taxable income, the Transition Tax Regime (RTT) was established as of 2008. The aim was to neutralize all new criteria for recognizing  revenues, expenses or costs.Companies had the option to adopt this new regime or not along 2008-2009, however, adoption became mandatory as of 2010. Nevertheless, companies found it difficult to carry the process through due to the original term, which expired on October 16th, 2009, before the end of the last quarter, and issues concerning the interpretation of the new accounting standards and their effects on tax legislation.The main purpose of this article is to analyse the effect of RTT on taxable income and accounting income in 2008 and 2009 and compare them with a mean of period 2005 to 2007 for taxable income companies that did not opt for this Regime, broken down into four sectors: agriculture, commerce, industry and services.The methodology was based on data from 2005 to 2009 authorized by Federal Treasury and the study sample consisted of 69,712 taxable income companies (65%) that did not opt for the RTT.On April 13th, 2010, Normative Instruction 1.023/10 extended the initial deadline however from these amendments, only 973 companies decided to adopt the RTT, suggests that a good analysis of the accountants.By comparing the period of 2008-2009 to that of 2005-2007, the value of five variables was obtained, namely, taxable income, accounting income, the difference between them, gross revenue and gross profit. Evidences has found that the companies that did not opt for the RTT paid less income tax (IRPJ) and social contribution on net profit (CSLL) in 2008-2009.