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The deepening of the differences between accounting and tax rules turned the growing in the deferred tax asset, resulting from the tax allocation of the temporary differences between the two accounting systems, into a problem for monetary authorities. Among the main interperiod tax allocation methods, the partial provision method for deferred taxes yields a more suitable deferred tax asset according to economic fundamentals. Monetary authorities have tried to limit the deferred taxes from growing in the financial institutions through off-balance-sheet procedures, especially because many countries, including Brazil, use the comprehensive (full) method of accounting for deferred taxes. Accounting standards on deferred taxes and American and Brazilian regulatory rules are analyzed and compared and the aggregate numbers of the deferred tax asset in the National Financial System are presented. Data were obtained from the Brazilian Central Bank database, which allowed for a survey of all National Financial System components. The resulting features show that, from fiscal year 1997 onwards, when the gap between accounting and tax rules deepened, especially due to the fact that most of provisions became indeductible for tax purposes, a continuous growth in deferred tax assets has occurred in Brazilian banks. Consequently, the Brazilian regulatory capital rules have become stricter and more distant from accounting. This study aims to propose a method of accounting for income taxes based on the partial provision method, but not like the partial method usually practiced. Nowadays, based on technical studies, banks determine the deferred tax assets arising from deductible temporary differences chosen by the banks themselves. Thanks to the financial market’s interdependency with other economic sectors, besides the low liquidity of deferred tax assets, according to the objective, the Brazilian Central Bank starts to play a pro-active role in the tax allocation process. Based on the partial method, the Central Bank will determine which timing differences will give rise to the deferred tax asset. The partial provision method thus achieved would result not only in a deferred tax record on an economic basis, because the reversal of the considered temporary differences would have the official seal of the Central Bank, but it would also provide for a shorter distance between the regulatory capital treatment of deferred tax assets and accounting principles, since the total deferred tax asset recorded in the National Financial System would possibly stay at a naturally tolerable level for regulatory capital purposes.

O ativo fiscal diferido no sistema financeiro nacional: análise e proposta de contabilização