Divulgação da receita tributável e agressividade tributária nas companhias abertas brasileiras

Abstract

Transparency in the disclosure of financial information is an essential element to mitigate information asymmetry between companies and their various stakeholders. In this context, this research investigated the relationship between tax aggressiveness and the mandatory disclosure of Taxable Income, analyzing, in light of the Disclosure Theory and developments in the area of tax disclosure, to what extent tax aggressiveness influences the disclosure of information on sales taxes in companies. The information from the explanatory notes of 322 Brazilian non-financial public companies was analyzed in the period from 2021 to 2023. To this end, the Cooke method was adopted to measure the level of disclosure of Taxable Income in line with the requirement of item 112-A of CPC 47. Although the literature indicates an association between tax aggressiveness and the level of disclosure of taxes, in the case of Taxable Income information, such an association was not verified. Through additional analyses, it was observed that audit firms and sectoral isomorphism are the main explanations for the variation in disclosure levels. As an unprecedented contribution to the literature on tax aggressiveness in Brazil, the study proposed a new metric for measuring tax aggressiveness, In addition, the metric found contributes to discussions on the potential effects of the Tax Reform in Brazil, by estimating sectoral differences in the reference rate provided for in Complementary Law 214 of 2025. In addition, the study contributes to the literature by discussing issues such as materiality and level of disaggregation of accounting information, in addition to the role of ¿model companies¿ suggested by audit firms in the preparation of financial statements. Thus, the findings of this research become relevant for regulators, investors and other stakeholders interested in the quality of corporate disclosure.