Tributação pelo imposto de renda sobre os ganhos de capital de pessoas físicas em ofertas públicas iniciais (IPO)
Carregando...
Tipo
TCC
Data de publicação
2023-06
Periódico
Citações (Scopus)
Autores
Ribeiro, João Vitor Souza
Orientador
Gioia, Fulvia Helena de
Título da Revista
ISSN da Revista
Título de Volume
Membros da banca
Programa
Resumo
Este trabalho analisa os regimes de tributação sobre a renda aplicável aos investidores pessoas físicas, sobre o ganho de capital - decorrente de operações realizadas em bolsa de valores, de mercadorias, de futuros e assemelhadas - no contexto da abertura de capital de empresas, que visam negociar suas ações em ambiente bursátil, as chamadas ofertas públicas iniciais de ações (IPO). Duas possibilidades de tributação sobre os ganhos de capital decorrentes das referidas operações foram analisadas: (I) pela hipótese de incidência geral do Imposto de Renda sobre as Pessoas Físicas (“IRPF”), aplicando-se as alíquotas progressivas de 15% a 22,5%, conforme valor do ganho, nos termos do artigo 21 da Lei n° 8.981/95; ou (II) pela hipótese de incidência de operações praticadas em bolsa de valores, submetido à incidência do Imposto de Renda Retido na Fonte (“IRRF”) de maneira exclusiva, pela alíquota fixa de 15%, nos termos do artigo 2° da Lei n° 11.033/04. Após a análise do local e do momento em que ocorre o fato gerador do imposto de renda, observa-se que o fato gerador ocorre fora do ambiente de bolsa de valores, de mercadorias, de futuros, e assemelhados, mais especificamente, ocorre em ambiente de mercado de balcão não organizado, bem como o momento do fato gerador ocorre antes da abertura do capital da empresa e consequente negociação de seus papéis na bolsa, no momento da aquisição da disponibilidade jurídica da participação societária, fora da bolsa de valores.
This paper analyzes the income tax regimes applicable to individual investors on capital gains - derived from operations carried out on stock market, commodities, futures and similar exchanges - in the context of companies going public when they seek to trade their shares on the stock market, the so-called initial public offer (IPO). Two possibilities of taxation on the capital gains arising from such operations: (I) by the general incidence of the Income Tax on Individuals ("IRPF"), applying the progressive rates from 15% to 22.5%, according to the value of the capital gain, under the terms of article 21 of Law 8,981/95; or (II) by the hypothesis of taxation of operations practiced in stock exchanges, subject to the incidence of Witholding Income Tax ("IRRF") in an exclusive manner, at the fixed rate of 15%, under the terms of article 2 of Law 11,033/04. After analyzing the place and time when the taxable event occurs, it is observed that the taxable event occurs outside the stock, commodities, futures, and similar markets. More specifically, it occurs in a non-organized over-the-counter market, and the moment of the taxable event occurs before the company goes public and the consequent trading of its shares on the stock exchange, at the time of the acquisition of the legal availability of the ownership interest, outside the stock exchange.
This paper analyzes the income tax regimes applicable to individual investors on capital gains - derived from operations carried out on stock market, commodities, futures and similar exchanges - in the context of companies going public when they seek to trade their shares on the stock market, the so-called initial public offer (IPO). Two possibilities of taxation on the capital gains arising from such operations: (I) by the general incidence of the Income Tax on Individuals ("IRPF"), applying the progressive rates from 15% to 22.5%, according to the value of the capital gain, under the terms of article 21 of Law 8,981/95; or (II) by the hypothesis of taxation of operations practiced in stock exchanges, subject to the incidence of Witholding Income Tax ("IRRF") in an exclusive manner, at the fixed rate of 15%, under the terms of article 2 of Law 11,033/04. After analyzing the place and time when the taxable event occurs, it is observed that the taxable event occurs outside the stock, commodities, futures, and similar markets. More specifically, it occurs in a non-organized over-the-counter market, and the moment of the taxable event occurs before the company goes public and the consequent trading of its shares on the stock exchange, at the time of the acquisition of the legal availability of the ownership interest, outside the stock exchange.
Descrição
Palavras-chave
imposto de renda , bolsa de valores , ofertas públicas iniciais , mercados assemelhados , income tax , stock market , initial public offer , similar markets