DISCLOSURE OF THE RESOURCES APLLIED IN RESEARCH, DEVELOPMENT & INNOVATION, AND REDUCTION OF TAX BURDEN IN COMPANIES LISTED ON BM&FBOVESPA

Abstract

The goal of this study is to verify the disclosure of information on the resources applied in Research, Development & Innovation, and reduction of tax burden in open capital companies that have used the tax benefits of Law No. 11.196, 21 November, 2005. The sample consists of 53 companies, resulting from the intersection of those listed on BM&FBovespa and in the Annual of Tax Incentive Report of the Ministry of Science, Technology and Innovation (MCTI) of 2011 and 2012. For the verification of the information disclosed on research, development and technological innovation, and reduction of the tax burden, through the pursuit of predetermined expressions, a documentary research was conducted in the Administration Reports of the companies. The results of the content analysis reinforce the quality of the information found, once they meet in full the constructs established in the research. However, a relative disparity was observed in the companies’ disclosure level for the two categories of analysis in both years, which creates a favorable setting for regulators to establish measures to ensure the compliance of the law. There is still a seal of adjustments on what to disclose and how to disclose regarding the use of tax incentives for technological innovation.