A Agressividade Tributária Gera Custos Reputacionais no Brasil?

The objective of this research is to investigate whether Brazilian companies bear the cost of reputation when engaging in tax aggressiveness activity. We used regressions with panel data to test the hypothesis that the higher the level of tax aggressiveness practiced by companies, the higher the reputational costs they suffer from this practice. The sample is in Brazilian publicly traded companies from 2010 to 2018. The results did not confirm the hypothesis and suggest that variations in sales, share price, admiration for the media and exchange of executives are not associated with the practice of aggressiveness, companies did not suffer reputational costs associated with tax aggressiveness. In short, this research suggests an aid to managers on the acceptance or not of fiscal aggressiveness, especially in the idea of reducing expenses with aggressive tax payments, for example.