Manipulação de resultados por subfaturação em empresas de produção de azeite
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Purpose: The present study seeks to analyze, in a sample of Portuguese companies, the existence of under-invoicing in olive oil production companies.This topic arose from reading the 2019 Report on Activities Developed to CombatFraud and Tax and Customs Evasion, published in June 2020 by the Tax and
Customs Authority (AT), in which the olive oil sector is considered one of the risk sectors. According to the report, an operation called “Fio de Azeite” Action was initiated with the purpose of combating tax fraud in this type of activity.
Methodology: In order to perform the study, a literature review was carried out focused on the earnings management, namely definitions, incentives to practice it and models for its detection. Data collection was done through the SABI database, relating to companies in the olive oil production sector, with CAE 10412 in the period from 2015 to 2020. In order to draw the necessary conclusions, Roychowdhury's (2006) model of real earnings management was used, in a first phase, to classify companies as under-invoicing manipulators and, in a second phase, a model estimated by Ordinary Least Squares (OLS) to assess whether companies resort to under-invoicing to minimize the payment of taxes to the State.
Results: The results obtained show that companies producing olive oil resort to under-invoicing in order to minimize the payment of taxes, which is in line with the assumptions of AT.
Originality: As far as is known, the present study is one of the few that attests, using the methodology available in the literature to identify practices of earnings manipulation due to underbilling, the results of an action developed by AT.
