Natureza Jurídica do Resultado de Avaliação do Investimento Relevante por Equivalência Patrimonial

Abstract

This article examines the nature of the evaluation of relevant participations made in the capital of other companies, with special focus on its tax regime. The author understands that the nature of the positive result of the net equity evaluation of the investment is of potential income, not legally nor economically in definitive possession of the tax payer. Therefore, as the necessary conditions for the imposition of the income tax are not met, as foreseen in article 43 of the National Tax Code, its taxation is against the legal framework. As a consequence, the negative result of the net equity evaluation of the investment may not generate fiscal effects, being undeductible for income tax purposes. It is a case of non incidence of the tax and not the case of a simple exemption foreseen in the ordinary law, which may be revoked by another ordinary law.