Desafios tributários ao financiamento das sociedades empresariais por meio de instrumentos financeiros híbridos

Resumo

After the establishment of the International Financial Reporting Standards ('IFRS') in Brazil by means of Law nº 11.638/2007, the discussion about the accounting classification of financial hybrid instruments as debt or equity was intensified considering that this establishment was not followed by amendment or reassessment of financial instruments provided by the Business Corporation Law (Law nº 6.404/1976). In the meantime, business enterprises were obliged to record under liabilities numbers previously recorded under shareholders´ equity. In the case of listed companies, the Securities and Exchange Commission ('CVM') required the re-elaboration of financial statements from 5 (five) corporations which financial hybrid instruments were classified under shareholders´ equity and not under liabilities. The tax practice does not distance itself from this discussion. Despite the publication of Law nº 12.973/2014, that, in theory, neutralized the tax effects of the new methodology and accounting criteria, the re-elaboration of financial statements determined by the Securities and Exchange Commission ('CVM') has tax consequences not regulated by the legislator, such as net profit change, undercapitalization limit and equity method. Considering the use by tax law of standards, concepts and forms from private law, such as profit and shareholder´s equity, what is proposed to be analyzed are the tax effects generated by the re-elaboration of financial statements determined by the Securities and Exchange Commission ('CVM').

Ficha do documento

Tipo

Dissertação

Ano

2018

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/20695

Palavras-chave

Instrumentos financeiros híbridosLei nº 12.973/2014CVMInternational Financial Reporting Standards ('IFRS')Financial hybrid instrumentsLaw nº 12.973/2014Securities and exchange commission ('CVM')DireitoSociedades por ações - FinanciamentoInstrumentos financeirosDireito tributário