Post by account_disabled on Feb 26, 2024 23:08:20 GMT -6
This week, we will deal with Carf precedents regarding whether or not the premium on the issuance of shares or quotas is taxed. SpaccaI could not start this column without a due tribute to the dear professor Ernesto Rubens Gelbcke [2] , who left us last week and whose legacy in academic and professional activity in the accounting area is enormous. One of Professor Gelbcke's main contributions to Brazilian accounting doctrine was his participation in the preparation of the then "Accounting Manual for Joint Stock Companies", by Fipecafi, alongside professors Sérgio de Iudícibus and Eliseu Martins. With the enactment of Law and the modernization of Brazilian accounting practices, Fipecafi was approached by the Securities and Exchange Commission in to prepare a manual to guide companies, professionals and the market on the new accounting standards, being the 1st edition of the Manual published in.
With the process of convergence of Brazilian accounting standards to the international standard the manual underwent reformulation, receiving reinforcement from Professor Ariovaldo dos Santos in 2010 and being called Corporate Accounting Manua. This work has become a reference not only for Accounting professionals, but also for legal professionals, especially those who Chinese Europe Phone Number List work with Tax Law. In a brief search in the Carf database, it is possible to identify that the Fipecafi Manual has already been cited in more than . Having made this due mention to Professor Gelbcke, it becomes essential to address the issue of issuing shares or quotas at a premium. In its original wording, article 178 of Law no. 6,404/76 established that net equity was divided into the following account share capitalcapital reserves revaluation reservesprofit reserves; and (v) accumulated profits or losses.
Regarding specifically the premium on the issuance of shares, articledetermines the classification as a capital reserve of the share subscriber's contribution that exceeds the nominal value and the part of the issue price of shares without nominal value that exceeds the amount allocated to the formation of share capital. According to the Fipecafi Corporate Accounting Manual: "capital reserves are made up of values received by the company and which do not pass through the result as revenue, as they refer to values destined to reinforce its capital, without having as counterpart any effort by the company in terms of delivery of goods or provision of services" [6] . As can be seen, in addition to the legal determination providing in this regard, the premium on the issuance of shares fits perfectly into the concept of capital reserve. In the same sense, the explanatory note to CVM Instruction no.
With the process of convergence of Brazilian accounting standards to the international standard the manual underwent reformulation, receiving reinforcement from Professor Ariovaldo dos Santos in 2010 and being called Corporate Accounting Manua. This work has become a reference not only for Accounting professionals, but also for legal professionals, especially those who Chinese Europe Phone Number List work with Tax Law. In a brief search in the Carf database, it is possible to identify that the Fipecafi Manual has already been cited in more than . Having made this due mention to Professor Gelbcke, it becomes essential to address the issue of issuing shares or quotas at a premium. In its original wording, article 178 of Law no. 6,404/76 established that net equity was divided into the following account share capitalcapital reserves revaluation reservesprofit reserves; and (v) accumulated profits or losses.
Regarding specifically the premium on the issuance of shares, articledetermines the classification as a capital reserve of the share subscriber's contribution that exceeds the nominal value and the part of the issue price of shares without nominal value that exceeds the amount allocated to the formation of share capital. According to the Fipecafi Corporate Accounting Manual: "capital reserves are made up of values received by the company and which do not pass through the result as revenue, as they refer to values destined to reinforce its capital, without having as counterpart any effort by the company in terms of delivery of goods or provision of services" [6] . As can be seen, in addition to the legal determination providing in this regard, the premium on the issuance of shares fits perfectly into the concept of capital reserve. In the same sense, the explanatory note to CVM Instruction no.