Brazil Tax

Who must file income tax returns in Brazil in 2024?

The IRPF is an important tax obligation for many Brazilians, and understanding who must file an income tax returns in Brazil in 2024 is key to avoiding complications with the Receita Federal. The period for submitting the annual IRPF (Individual Income Tax) return runs until May 31st. Federal Revenue Service expects to receive 43 million […]

Who must file income tax returns in Brazil in 2024? Read More »

How to declare crypto assets in the Income Tax in Brazil? Check out important tips on the subject

If you are a cryptocurrency investor, you must be careful when declaring your income in the Brazilian Income Tax. The Federal Revenue has increased supervision over these digital assets and those who do not declare correctly may have problems in the future. According to the Federal Revenue, crypto assets are not legal tender, but can

How to declare crypto assets in the Income Tax in Brazil? Check out important tips on the subject Read More »

STF and the ruling on the exclusion of rental income from the PIS and COFINS tax base

Involving an important issue regarding the calculation basis for PIS and COFINS under the cumulative regime, the judgment specifically addresses whether or not income from renting out own property should be included in this calculation basis. The discussion is based on the interpretation of the concept of billing, which is the basis for calculating these

STF and the ruling on the exclusion of rental income from the PIS and COFINS tax base Read More »

Brazilian Federal Law No. 14.754: Updates on Taxation for Foreign Investments and Entities

In May 2023, the Provisional Measure (a temporary legislative decree) No. 1,171/2023 concerning the taxation of income earned by Brazilian tax residents on financial investments, controlled entities, and trusts abroad, was published, introducing significant alterations in the taxation of foreign investments for Brazilian tax residents. On December 12th, 2023, Brazilian Federal Law No. 14,754/2023 was

Brazilian Federal Law No. 14.754: Updates on Taxation for Foreign Investments and Entities Read More »

Impact of the tax reform on service companies

Changes in the tax burden: Tax reform could result in changes to the tax burden that service companies have to pay. This could affect companies’ operating costs and profitability. Changes to expense deduction rules: Tax reform may bring changes to expense deduction rules, which may affect how service companies can claim certain expenses as deductible

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Surprising decision by CARF: Brazilian withholding tax levied on fund income is canceled

The Administrative Council for Tax Appeals (CARF) recently made a surprise decision to cancel a Withholding Income Tax (IRRF) charge on fund income. This decision could bring significant changes for investors and financial managers. The Withholding Income Tax rate applied to income sent to foreign shareholders of Equity Investment Funds (FIP) was 35%. There is

Surprising decision by CARF: Brazilian withholding tax levied on fund income is canceled Read More »

PL 1938/23 X IRPF: Who will take it?

Proposal aims to make professional council fees deductible. In the process of being analyzed by the Chamber of Deputies, Bill 1938/23 deals with the deductibility for Individual Income Tax (IRPF) purposes of contributions disbursed to professional associations. In a nutshell; the categories of professional classes are governed by regulatory councils, which in turn are run

PL 1938/23 X IRPF: Who will take it? Read More »

The Open Capital Market is coming! CVM President explains what it is

The Open Capital Market is an initiative introduced by the president of the Securities and Exchange Commission (CVM), João Pedro Barroso do Nascimento, aimed at strengthening and expanding the capital market in Brazil. The aim is to make the capital market more attractive, inclusive and competitive, contributing to the country’s economic growth. The actions mentioned

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Provisional Measure No. 1,171/2023: Innovations to the tax regime for assets abroad held by individuals residing in Brazil

On April 30, 2023, the Brazilian Federal Government published Provisional Measure (“MP”) No. 1.173/2023 providing for a new tax regime for income received abroad. Among other aspects, the new rule aims to institute the automatic taxation of income tax on income earned by individuals with residence in Brazil from financial investments, controlled entities, and trusts

Provisional Measure No. 1,171/2023: Innovations to the tax regime for assets abroad held by individuals residing in Brazil Read More »

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