O impacto da fiscalidade sobre o autofinanciamento das empresas: estudo de caso : Empresa Nestlé Unipessoal-lda
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Data
2023
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A variável fiscal tornou-se um parâmetro essencial na tomada de decisão de todas as
empresas, o objetivo principal é sempre melhorar o seu valor.
O objetivo desta investigação é examinar o impacto da tributação no autofinanciamento,
embora desempenhe um papel importante para assegurar a independência financeira da empresa
visando os mercados financeiros, bem como o seu volume depende da política fiscal adotada
pelo país e que procura sempre cobrir as necessidades do Estado através da cobrança do
imposto, mas sem pôr em causa o desenvolvimento da empresa. A análise do impacto dos
impostos sobre o autofinanciamento da Nestlé-Portugal consiste em analisar o impacto dos
impostos sobre cada elemento que constitui o autofinanciamento da empresa. Para o fazer,
foram reunidos conjuntos de informações contabilísticos e financeiras com base nos relatórios
anuais da empresa, para validar 17 exercícios contabilísticos, sendo concluído que:
• A variável fiscal tem um impacto positivo sobre o autofinanciamento e seus
componentes e incentiva a criação de fluxo monetário, caso o Estado adote a estratégia
de reestruturação fiscal sob a forma de descontos, ou isenções concedidas, incentivando
as empresas para o sistema de amortização que permite a realização de economias de
impostos;
• A redução da taxa do IRC ou a aplicação de uma taxa do IRC reduzida incentiva as
empresas a reinvestir os seus lucros e a ter uma capacidade de autofinanciamento
significativa.
• A escolha do modo de amortização permite às empresas reduzir o lucro tributável e
consequentemente reduzir o imposto, portanto, aumentar o lucro.
• Construir provisões para enfrentar perdas e encargos prováveis ajudando as empresas a
diminuir o lucro tributável e a ter um montante de autofinanciamento bastante elevado,
que pode ser utilizado para aumentar o património das mesmas.
A fiscalidade pode afetar significativamente o autofinanciamento das empresas. Os governos
precisam equilibrar a necessidade de arrecadar receitas fiscais com a necessidade de incentivar
o investimento e o crescimento empresarial.
Palavras-chaves: Fiscalidade, Autofinanciamento, Nestlé-Portugal, Provisões, Amortizações.
The tax variable has become an essential parameter in the decision-making of all companies, the main objective is always to improve their value. The purpose of this study is to examine the impact of taxation on self-financing, although it plays an important role in ensuring the financial independence of the company in relation to the financial markets and its volume depends on the fiscal policy adopted by the country and which always seeks to cover the needs of the State through the collection of tax, but without compromising the development of the company. The analysis of the impact of taxes on the self-financing of Nestlé-Portugal consists of analyzing the impact of taxes on each element that constitutes the self-financing of the company. To do so, sets of accounting and financial information were gathered on the basis of the company's annual reports to validate 17 accounting years and it was concluded that: • The tax variable has a positive impact on self-financing and its components and encourages the creation of cash flow, if the State adopts the tax restructuring strategy in the form of discounts, or exemptions granted, encouraging companies to the amortization system that allows the realization of tax savings. • The reduction of the IRC rate or the application of a reduced IRC rate is an incentive for companies reinvest their profits and to have a significant capacity for self-financing. • The choice of depreciation mode allows companies to reduce taxable profits and consequently reduce tax and therefore increase profits. • Building provisions for likely losses and charges helps companies reduce taxable profits and have a high amount of self-financing that can be used to increase the company's capital. taxation can significantly affect the self-financing of companies. Governments need to balance the need to collect tax revenues with the need to encourage investment and business growth. Keywords: Taxation, self-financing, Nestlé-Portugal, Provisions; Depreciation and amortization
The tax variable has become an essential parameter in the decision-making of all companies, the main objective is always to improve their value. The purpose of this study is to examine the impact of taxation on self-financing, although it plays an important role in ensuring the financial independence of the company in relation to the financial markets and its volume depends on the fiscal policy adopted by the country and which always seeks to cover the needs of the State through the collection of tax, but without compromising the development of the company. The analysis of the impact of taxes on the self-financing of Nestlé-Portugal consists of analyzing the impact of taxes on each element that constitutes the self-financing of the company. To do so, sets of accounting and financial information were gathered on the basis of the company's annual reports to validate 17 accounting years and it was concluded that: • The tax variable has a positive impact on self-financing and its components and encourages the creation of cash flow, if the State adopts the tax restructuring strategy in the form of discounts, or exemptions granted, encouraging companies to the amortization system that allows the realization of tax savings. • The reduction of the IRC rate or the application of a reduced IRC rate is an incentive for companies reinvest their profits and to have a significant capacity for self-financing. • The choice of depreciation mode allows companies to reduce taxable profits and consequently reduce tax and therefore increase profits. • Building provisions for likely losses and charges helps companies reduce taxable profits and have a high amount of self-financing that can be used to increase the company's capital. taxation can significantly affect the self-financing of companies. Governments need to balance the need to collect tax revenues with the need to encourage investment and business growth. Keywords: Taxation, self-financing, Nestlé-Portugal, Provisions; Depreciation and amortization
Descrição
Orientação: António Augusto Teixeira da Costa
Palavras-chave
MESTRADO EM GESTÃO DE EMPRESAS, GESTÃO, MANAGEMENT, GESTÃO DE EMPRESAS, BUSINESS MANAGEMENT, FISCALIDADE, TAX SYSTEM, FINANCIAMENTO, FINANCING, AMORTIZAÇÕES, AMORTIZATIONS