@curtonews Write it down on your calendar: on March 15th, the period for submitting your Income Tax declaration begins. 🦁 #CurtoNews ♬ original sound – Curto News
The start of the 2023 Income Tax declaration, base year 2022. If you already filed your declaration last year, it will be easier to fill out the document.
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Important: Despite the changes declared by President Lula recently, know that they will only come into effect from this year onwards, that is, in the 2024 declaration.
So, does anything change in the 2023 IR declaration?
No. This year you declare your income from the previous year (2022), that is, only those who received monthly earnings below R$1.903 will be exempt from payment.
In relation to this year's declaration, the only gain is that you will have more time to submit it to the IRS: the deadline is May 31st, previously it was April!
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And what's new on the IR table? Who will be impacted?
We spoke with lawyer Fabio Balieiro, specialist in Tax Law, partner at Theodoro e Balieiro Advogados:
Curto news: What are the main changes suggested by President Lula for the table and how does this affect other taxpayers?
Balieiro: First of all, it is important to highlight that the opinion presented here is based on statements made in interviews, as no standard on the subject has been published at the date of this interview. The main change suggested by President Lula is the correction of the Income Tax exemption range, which is currently R$1.908,000, and will now be R$2.640,00.
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In a clarification note, the Federal Revenue of Brazil informed that in order to operationalize the measure, the exemption range will be expanded to R$ 2.112,00, with a simplified monthly deduction of R$ being permitted 528,00. In practice, this means that the person who earns up to R$2.640,00 will not pay income tax, neither at source nor in the annual adjustment declaration. And whoever earns above that will only pay on the excess amount.
As of the publication of the rule, the change in the exemption range will come into effect, so taxpayers must verify this benefit this year.
Curto news: Is every Brazilian obliged to declare Income Tax?
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Balieiro: No, according to current rules, only people with annual taxable income greater than R$ 28.559,70 (annual) must submit an income tax return.
Even without the need to submit a declaration, know that any monthly income exceeding R$1.908,00 must be taxed.
In addition to these people, you must submit a declaration:
- who earned more than R$40 thousand exempt, non-taxable or taxed at source in the year, such as financial investments, labor compensation, etc.);
- who made a profit from the sale of goods; who bought or sold shares on the stock exchange, regardless of value;
- received more than R$ 142.798,50 in rural activities;
- was the owner of real estate whose value exceeds R$300 thousand;
- opted for exemption when selling a property and purchased another within 180 days;
- and foreigners who took up residence in Brazil and were here on 31/12/2022.
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