BOOK-TAX DIFFERENCES, EARNINGS PERSISTENCE AND TAX PLANNING BEFORE AND AFTER THE ADOPTION OF IFRS IN BRAZIL

Antônio Lopo Martinez · Tatiana Bossonello Tolentino de Souza · Danilo Soares Monte‐Mor

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Auditing, Earnings Management, Governance Taxation and Legal Issues Corporate Taxation and Avoidance

Abstract

The aim of this study was to provide evidence regarding the relationship between book-tax differences (BTD), persistence of earnings and accruals and tax planning in the Brazilian scenario.The sample corresponds to all nonfinancial firms listed on the BM&FBovespa that disclosed consolidated financial statements between 2003 and 2012, obtained from the Economática database.The sample period was chosen to straddle the year when the use of International Financial Reporting Standards (IFRS) became mandatory in Brazil.Based on the econometric models presented by Hanlon (2005) and modified by Blaylock et al. (2012), we observed the statistical significance of the regressions in Brazilian context.The coefficients of the variables present indications of less persistence of earnings, besides indicating that earnings became less persistent after adoption of IFRS.The results also provide statistical evidence that temporary large positive BTDs provide useful incremental information about the magnitude of accruals and that by examining accruals it is possible to predict the persistence of earnings and their components.

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