Abstract
The objective of this study was to analyze the possible effects of the electric sector's regulatory regulations and the enactment of laws 10,637 / 2002 and 10,833 / 2003 on the collection of federal PIS and COFINS taxes and on pricing of electric energy tariffs, identifying the determinant factors for fixing them. The multivariate analysis was used as an analytical approach, taking as reference the multiple panel regressions. In general, there was a 113% increase in the payment of PIS and COFINS social contributions after the enactment of Law 10.833/2003, indicating that the right to deduct credits on certain factors of production was not obtained by companies in the electric energy sector increasing, therefore, the tax burden of companies. The direct consequence of this result was the increase in the average electric energy tariff charged from residential consumers, especially after the 2004 period. In this sense, after a 153% increase in the PIS and COFINS rates, and after the concessionaires' right to revise their tariffs when there was an increase in costs, including taxes, there was a considerable increase in the average tariff of electric power in the order of 2.8% and 8.1%, respectively, higher than the increases in their production costs. Therefore, it can be inferred that the increase in electric energy tariffs during the study period was mainly due to the increase of the tax burden and the regulatory factors since the factors of production were not significant in the model.
Highlights
The direct consequence of this result was the increase in the average electric energy tariff charged from residential consumers, especially after the 2004 period
After the increase in the COFINS tax rate from 3% to 7.6%, and after the concessionaires' right to revise their tariffs when there was an increase in costs, including taxes, there was an increase of 8.1% in the price of electric power higher than the increase in other production costs
It was verified that the tax changes instituted by Law 10.833 / 2003 significantly affected the Brazilian publicly traded companies in the Brazilian electricity sector, in view of the 113% increase in PIS and COFINS since the year 2004, indicating that the 153% increase in the PIS and COFINS rates was not offset by the credits calculated on the production factors allowed by the legislation
Summary
Since the 1990s, the Brazilian Electric Energy sector has undergone several changes of an institutional nature, expansion of private sector participation, technological innovations, economic infrastructure, deregulation of the sector and institution of public policies, among them, the tax police. The government felt the necessity of new changes that in the vision of Moraes (2009), Gomes et al (2009) and Viana et al (2009) were necessary for the competitiveness and maintenance of the sector, among them: (1) the unbundling of generation, transmission, distribution and commercialization activities (known as MAE / CCEE) and, as of 2004, subdivided into exporters and importers; (2) the purchase of electric power in the transmission and distribution segments started to be done through auctions - observing the lowest tariff criterion and, (3) introduction of the independent producer and self-producer on a larger scale, with the objective of better Allocation, production and distribution of resources.
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