INDICATIONS OF INCENTIVE TINCOME SHIFTING BY TRANSFER PRICE IN MANAUS FREE TRADE ZONE COMPANIES
DOI:
https://doi.org/10.21680/2176-9036.2018v10n2ID12415Keywords:
Transfer Price. Income shifting. Fiscal aggressiveness.Abstract
The objective of this article is to investigate indications of incentive to the practice of income shifting by transfer price in multinational companies of the Manaus Free Trade Zone by means of the following research question: how do the multinational companies of the Manaus Industrial Complex show signs of incentive to practice shifting income through the transfer price? The research has descriptive character, quantitative approach and multicase study. Financial statements for the years 2013 to 2016 of 08 multinationals were examined using two methods of fiscal aggressiveness: BTD - Book Tax Difference and ETR - Effective Tax Rate. Also, the vertical analysis of the account related parties of the ZFM subsidiaries was useful. It was verified that the matrices are more aggressive than the affiliates because they presented higher occurrences of positive BDT's and results of ETR similar to that of the branches. However, in a detailed analysis of the results it is concluded that the different conditions established by the Manaus Free Trade Zone, confirmed by the greater number of reduced ETR results, demonstrate especially in 04 companies, the existence of incentives for the practice of income shifting by means of transfer price, where the matrices can transfer results to the subsidiaries in order to be taxed at a reduced rate, to be tax exempt or to resort to the use of credits and tax benefits. The results confirm the ability of the Manaus Free Trade Zone to attract international investments and demonstrate the effectiveness of the current rules of Brazilian legislation on transfer prices, since, despite incentives, no evidence was found of the practice of income shifting among ZFM parent companies and subsidiaries in almost 88% of the sample.
Downloads
References
BARTELSMAN, Eric J.; BEETSMA, Roel MWJ. Why pay more? Corporate tax avoidance through transfer pricing in OECD countries. Journal of Public Economics, v. 87, n. 9, p. 2225-2252, 2003.
BORKOWSKI, Susan C. Factors affecting transfer pricing and income shifting (?) between Canadian and US transnational corporations. The International Journal of Accounting, v. 32, n. 4, p. 391-415, 1997.
CHUNHACHINDA, Pornchai; DE BOYRIE, Maria E.; PAK, Simon J. Thailand Capital Flight through Trade with the US During Times of Political and Economic Instability. 2008
CLAUSING, Kimberly A. Tax-motivated transfer pricing and US intrafirm trade prices. Journal of Public Economics, v. 87, n. 9, p. 2207-2223, 2003.
CRISTEA, Anca D.; NGUYEN, Daniel. Transfer pricing by multinational firms: New evidence from foreign firm ownerships. Available at SSRN 2517509, 2014.
DAVIES, Ronald B.; MARTIN, Julian.; PARENTI, Mathieu.; TOUBA, Farid. Knocking on Tax Haven S Door: Multinational Firms and Transfer Pricing. 2015.
DE MACENA ARAÚJO, Risolene Alves; SANTOS, Lívia Maria da Silva; FILHO, Paulo Amilton Maia Leite; CÂMARA, Renata Paes de Barros. ANÁLISE COMPARATIVA DA AGRESSIVIDADE FISCAL DAS EMPRESAS LISTADAS NA BM&FBOVESPA E NA NYSE. 2016.
FERREIRA, Felipe Ramos;MARTINEZ, Antonio Lopo; COSTA, Fábio Moraes da; PASSAMANI; Renato Rovetta. Book – tax diferences e gerenciamento de resultados no mercado de ações do Brasil. Revista de Administração de Empresas, v. 52, n. 5,p. 488-501,2012.
FORMIGONI, Henrique; ANTUNES, Maria Thereza Pompa; PAULO, Edilson. Diferença entre o lucro contábil e lucro tributável: uma análise sobre o gerenciamento de resultados contábeis e gerenciamento tributário nas companhias abertas brasileiras. BBR Brazilian Business Review, v. 6, n. 1, p. 44-61, 2009.
GIANNINI, S.; MAGGIULLI, C. The effective tax rates in the EU Commission Study on company taxation: Methodological Aspects, Main Results and Policy Implications. In: Ifo Studien, pp. 633-653, 2002.
GRAMLICH, Jeffrey D.; WHEELER, James E. How Chevron, Texaco, and the Indonesian government structured transactions to avoid billions in US income taxes. Accounting Horizons, v. 17, n. 2, p. 107-122, 2003.
GRUBERT, Harry; MUTTI, John. Taxes, tariffs and transfer pricing in multinational corporate decision making. The Review of economics and Statistics, p. 285-293, 1991.
GRUBERT, Harry; SLEMROD, Joel. The effect of taxes on investment and income shifting to Puerto Rico. Review of Economics and Statistics, v. 80, n. 3, p. 365-373, 1998.
GRUNOW, Aloisio; BEUREN, Ilse Maria; HEIN, Nelson. Métodos de preço de transferência interna utilizados nas maiores empresas do Brasil/Pricing methods of internal transference used by the biggest brazilian companies DOI 10.5752/P. 1984-6606.2010 v10n24p74. Revista Economia & Gestão, v. 10, n. 24, p. 74-102, 2010.
LOHSE, Theresa; RIEDEL, Nadine. Do transfer pricing laws limit international income shifting? Evidence from European multinationals. 2013.
MACHADO, Diana Natércia da Silva. A utilização dos preços de transferência pelas empresas multinacionais como mecanismo de evasão fiscal. 2016. Tese de Doutorado.
MAIER, Stefânia Maria; SCHÄFER, Joice Denise; GASPARETTO,Valdirene. CPC 22: Um estudo sobre a divulgação de informações de preço de transferência em empresas da BM&FBovespa. 2016.
MARCONI, de Andrade Marina; LAKATOS, Eva Maria. Fundamentos de metodologia científica.5 ed. São Paulo: Atlas S.A. 2003.
MARTINEZ, Antonio Lopo; DALFIOR, Marcelo Domingos. AGRESSIVIDADE FISCAL ENTRE COMPANHIAS CONTROLADORAS E CONTROLADAS.Revista da Receita Federal: estudos tributários e aduaneiros, v. 2, n. 1, p. 344-362, 2016.
OYELERE, Peter B.; EMMANUEL, Clive R. International transfer pricing and income shifting: Evidence from the UK. European Accounting Review, v. 7, n. 4, p. 623-635, 1998.
PAK, Simon J.; ZANAKIS, Stelios H.; ZDANOWICZ, John S. Detecting abnormal pricing in international trade: The Greece-USA case. Interfaces, v. 33, n. 2, p. 54-64, 2003.
PRIMEL, Ednei Gilberto; ZANELLA, Renato; KURZ, Márcia Helena Scherer; GONÇALVES, Fábio Ferreira; MACHADO, Sérgio de Oliveira; MARCHEZAN, Enio. Taxa de imposto efetiva incidente sobre a renda e gerenciamento tributário nas empresas do setor de construção civil do Mercosul. In: Anais do Congresso Brasileiro de Custos-ABC. 2013.
RATHKE, Alex Augusto Timm. Transfer pricing e income shifting: evidências de empresas abertas brasileiras. Tese de Doutorado. Universidade de São Paulo. 2014
ROSSETO, Vicente. Preços de transferência: comentários à Lei nº. 9.430/96. Caderno de estudos, n. 17, p. 01-10, 1998.
SANTANA, Camila Freitas; ZONATTO, Vinícius Costa da Silva; VERGINI, Danielle Paná. Determinantes da Taxa de Imposto Efetiva de Empresas da América Latina. 2015
SUFRAMA. Indicadores de desempenho do polo industrial de Manaus. Disponível em: http://www.suframa.gov.br/downloads/download/indicadores/RelIndDes_7_2015_julho.pdf. Acesso em 04 de janeiro de 2017.
TAYLOR, Grantley; RICHARDSON, Grant. International corporate tax avoidance practices: evidence from Australian firms. The International Journal of Accounting, v. 47, n. 4, p. 469-496, 2012.
VARGAS-HERNÁNDEZ, José G. Income Distribution In Multinational Firms Through Transfer Pricing. 2012.
VICARD, Vincent. Profit shifting through transfer pricing: evidence from French firm level trade data. 2015.
YIN, Robert K. Estudo de Caso: planejamento e métodos. Porto Alegre: Bookman, 2001.
Downloads
Published
How to Cite
Issue
Section
License
Authors who publish in this magazine agree with the following terms:
Authors keep the copyrights and concede the right of its first publication to the magazine. The work piece must be simultaneously licensed on the Creative Commons Attribution Licence which allows the paper sharing, and preserves both the author identity and the right of first publication to this magazine.
Authors are authorized to assume additional contracts separately, to not-exclusively distribution of the paper version published in this magazine (e.g.: publish in institutional repository or as a book chapter), with the author identity recognition and its first publication in this magazine.
Authors are permitted and stimulated to publish and distribute their papers online (e.g.: in institutional repository or on their personal webpage), considering it can generate productive alterations, as well as increase the impact and the quotations of the published paper.
Creative Commons - Atribuição-NãoComercial-SemDerivações 4.0 Internacional.
Português (Brasil)
English
Español (España)
