INCOME TAXATION BY CASH FLOWS PERFORMED

Abstract

As the average term of sales receipt of companies are greater than the term for payments of taxes, can occur difficulties in the working capital management in function of the imbalance between the moment of the revenue recognition, with the consequent taxation of the profit, and its receipt. On average, the necessary cash for the payment of the tax not yet was generated by the sales receipt. In function of problems as the imbalance of the moment of the recognition of the prescription enters, with the consequent taxation of the profit, and its act of receiving, this paper looks for to analyze if the cash flows have correspondence with profit and income and can be used as taxation base. It was verified that only the flows that represent addition to the patrimony of the investor are that they have correspondence with income, and are they who could be taxed. As result of this, an accounting model of verification of the taxable flows of cash was elaborated, also with the recognition of the inflationary effect. It was demonstrated that all the entrances of cash generated by the asset or proceeding from its accomplishment must be taxed and that all the exits of cash necessary to pay an acquired asset must be deductible, as well as the payments of interests generated for the liabilities. Any values are also taxable that involve the reduction of an active not-cash with counterpart in an account of Equity, and deductible the contrary operations. The inflationary effect on the cash also must be deductible, as well as must be taxed the inflationary gains with indebtedness of third.