A natureza jurídica das stock options: novo posicionamento do Conselho Administrativo de Recursos Fiscais (CARF) e os próximos passos da discussão
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TCC
Date
2023-06
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Authors
Calsa, Yann Jordão
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Bruno, Reinaldo Moreira
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Abstract
O presente trabalho tem como objetivo entender a discussão a respeito da natureza jurídica
das stock options, especialmente na esfera administrativa. Embora o Conselho Administrativo
de Recursos Fiscais (CARF) tenha adotado entendimento histórico em desfavor à tese da
natureza mercantil das opções de compra de ações, o posicionamento compartilhado pelos
demais tribunais demonstra-se favorável às empresas e seus funcionários. Essa discrepância
na jurisprudência ganhou importância nos últimos anos, em decorrência da popularidade que
as stock options plans tem conquistado. A partir disso, será analisada a opinião que a doutrina
vem adotando sobre o assunto, a jurisprudência do CARF, bem como dos tribunais judiciais,
com a finalidade de demonstrar a mudança no entendimento do tribunal em questão,
conforme demonstrado na decisão proferida no processo administrativo n°
16682.721015/2013-46, julgado no ano de 2022 pela CSRF. Por fim, serão demonstrados
quais os próximos passos que estão sendo tomados para elucidação da discussão, como por
exemplo o Projeto de Lei n° 2.724 de 2022, onde se propõe a regulamentação das opções de
compra de ações, definindo a sua natureza mercantil.
The present work aims to understand the discussion around the legal nature of stock options, especially in the administrative sphere. Although the Administrative Council of Tax Appeals (CARF in Brazil) has historically adopted an unfavorable understanding of the commercial nature of stock options, the position shared by other courts has been favorable to companies and their employees. This discrepancy in case law has gained importance in recent years, due to the popularity that stock option plans have achieved. From this perspective, the doctrine's opinion on the subject will be analyzed, as well as the case law of CARF and judicial courts, with the purpose of demonstrating the change in CARF's understanding about the matter, as shown in the decision rendered in administrative process n° 16682.721015/2013-46, judged in 2022. Finally, the next steps being taken to clarify the discussion will be demonstrated, such as the Bill n° 2.724/2022, which proposes to regulate stock options, defining their commercial nature.
The present work aims to understand the discussion around the legal nature of stock options, especially in the administrative sphere. Although the Administrative Council of Tax Appeals (CARF in Brazil) has historically adopted an unfavorable understanding of the commercial nature of stock options, the position shared by other courts has been favorable to companies and their employees. This discrepancy in case law has gained importance in recent years, due to the popularity that stock option plans have achieved. From this perspective, the doctrine's opinion on the subject will be analyzed, as well as the case law of CARF and judicial courts, with the purpose of demonstrating the change in CARF's understanding about the matter, as shown in the decision rendered in administrative process n° 16682.721015/2013-46, judged in 2022. Finally, the next steps being taken to clarify the discussion will be demonstrated, such as the Bill n° 2.724/2022, which proposes to regulate stock options, defining their commercial nature.
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Keywords
stock options , opção de compra de ações , natureza jurídica , jurisprudência do CARF , stock option plans , legal nature , administrative council of tax appeals jurisprudence , bill