Juros sobre capital próprio: gestão estratégica

Abstract

In Brazil, before the Law 9.249/95 and in the world, it is practiced the payment of interests on own capital with the counterpart of tax deduction from the taxation of open capital companies and use of the value in the accounting statements that allows the payment of the Juros Sobre Capital Próprio JCP to the investors, shareholders, debenture holders and stakeholders and for the companies where the deductibility is allowed. How to balance the contributive capacity of large publicly traded corporations in the stock market paying JCP allowing the deduction with the opportunity of the expense deductibility before the corporate income tax in order to support the minimization of tax aggressiveness? Thus, the research objective is to demonstrate the importance of the financial balance in the stock market paying the JCP maintaining the tax deduction in the accounting statement. The social justification of the research is to define an economic balance in the stock market, as well as to present to the academic class new directions for discussion and maturation of the theme. The research methodology has a basic nature with bibliographical procedures, a qualitative approach and an exploratory objective. Data collection was based on traditional bibliography, scientific articles and magazines, and Law 9.249/95. The result of the research points out that for an economic balance in the stock market the maintenance of the payment of JCP to investors is conditioned, as well as the maintenance of the deduction of the expense from the taxes of publicly traded companies, seeking to minimize tax aggressiveness. The Public Power has been seeking to insert measures that aim at the extinction of the deductibility, for tax purposes, of the amounts paid as interest on equity (JCP). To exemplify the Legislative and Executive powers present as arguments, the violation of the principle of contributive capacity or the characteristic of JCP as an instrument of tax manipulation Medeiros et al, (2016).