Determinantes da evasão fiscal em instituições financeiras: evidências do Brasil e dos Estados Unidos.

This paper analyzes the determinants of tax avoidance of financial institutions. We analyzed 131 Brazilian financial institutions and 2,886 American financial institutions for the period from 2008 to 2017. The sample is composed by 28,590 observations. The two main metrics of tax avoidance used n the national and international literature were calculated (Book-Tax Differences - BTD and Cash ETR). Four econometric strategies were used: Least Squares Method (OLS), Fixed Effects, Random Effects and Generalized Systemic Moments Method (GMM-Sis). It was found that for the Brazilian sample, there is some evidence that intangibles, size and return on assets (ROA) are some determinants of tax avoidance. For the United States sample, it was found that there is some evidence that size and total debts are some determinants of tax avoidance. A common determinant in the two samples is size. This result is in line with the literature that predicts that larger companies are better able to perform tax avoidance. This study contributes to a better understanding of the tax planning practices carried out by financial companies. [ABSTRACT FROM AUTHOR]