CPC 47 (IFRS 15)

Tax Aspects in the New Revenues Accounting Standard

Abstract

The present work performs a basic theoretical analysis of IFRS 15 – Revenue from Contracts with Customers, incorporated in Brazil as CPC 47, where it is mandatory starting on January 1st, 2018, in order to discuss potential tax issues emerging from this new accounting standard on revenue recognition. The study examines the possibility that certain accounting criteria of IFRS 15 may serve as a basis for the determination of federal taxes (IRPJ, CSLL, PIS and COFINS), as in the case of separation of performance obligations related to the acquisition of additional goods or services, and proposes a critical analysis regarding the positions surrounding the tax neutrality of CPC 47 in Brazil. The paper also analyzes if there is compatibility between the separation of performance obligations standard provided for in CPC 47 and the state and municipal tax rules on sales of goods and services (ICMS and ISS)