Income Tax 2023: Income Details Rules for This Year’s Filing; see changes

Liability rules remain; The major novelty, according to the Revenue Agency, comes down to the extension of the deadline, which will last until May 31

A IRS released this monday 27, the rules for declaring the Income tax 2023. Second tax, the most important change this year is the deadline, which has been extended from 15 March to 31 May, with the aim of making it possible for all taxpayers to use the pre-compiled return. “Today, if we released the program now, we would not have the technological process ready for pre-completion,” said national income tax program coordinator, tax auditor José Carlos.

Another change refers to the delivery of income tax for those who worked in stock Exchange. Previously, any transaction on the stock exchange required a taxpayer’s declaration. Now, they are only obliged if, in the calendar year, more than R$ 40,000 shares have been sold. Also, the second criterion is whether the net gain is subject to tax. More details below.

The taxman expects to receive up to 39.5 million returns this year. The Regulatory Instruction should be published on Tuesday 28th. Stadium will bring on the Economy Portal, in addition to the podcast, the complete coverage of the Irpef 2023 Understand your IRin collaboration with the Radio El Dorado.

Check who has to file a tax return in 2023

I – received taxable income, subject to adjustment in the declaration, the sum of which was greater than R$ 28,559.70 (twenty-eight thousand, five hundred and fifty-nine reais and seventy cents);

II – income received exempt, not taxable or taxed exclusively at source, the sum of which exceeds R$ 40,000.00 (forty thousand reais);

III – obtained, in any month, a capital gain on the sale of goods or rights subject to the incidence of the Tax;

IV – carried out disposal operations on stock exchanges, commodities, futures and similar:

a) the sum of which exceeds BRL 40,000.00 (forty thousand reais); OR

b) with calculation of net capital gains subject to tax;

With regard to who carried out transactions on the stock exchangescommodities, futures and the like, only those who, in the calendar year, alienation effected:

• the sum of which was greater than BRL 40,000.00 or;
• with calculation of net capital gains subject to tax

V – as regards rural activity:

a) obtained gross receipts in an amount exceeding BRL 142,798.50 (one hundred and forty-two thousand, seven hundred and ninety-eight reais and fifty cents); OR

b) intends to offset, in calendar year 2022 or later, losses from previous calendar years or from calendar year 2022;

VI – had, as at 31 December, possession or ownership of goods or rights, including bare earth, with a total value exceeding R$ 300,000.00 (three hundred thousand reais);

VII – became a resident of Brazil in any month and was in this status on December 31st; OR

VIII – has opted for the exemption from Irpef on the capital gain realized with the sale of residential properties, if the proceeds from the sale are intended for the purchase of residential properties located in the State, within the term of 180 (one hundred and eighty) days, counted by conclusion of the sales contract, pursuant to art. 39 of Law 21 November 2005 n. 11,196;

Return

The refund will once again be in 5 lots, with the first one on May 31st. The novelty will be, according to the Revenue Agency, the delivery of the first lot within the delivery deadline of the declaration. This initial batch is usually reserved for legal priorities such as elders and teachers. Initially, the priority group that declares by 10 May will be able to receive the refund on 31 May. The refund can be paid via PIX, with CPF key only.

1st lot: May 31st

2nd lot: June 30th

3rd lot: July 31st

5th lot: August 31st

5th lot: 29 September

Report income

The companies have until Tuesday 28 to provide the employee income report, under penalty of a fine: “You are subject to the payment of a fine of R$ 41.43 (forty-one reais and forty-three cents), the paying source that does not provide the received to the beneficiaries within the established deadline”, as indicated in the Regulatory Instruction that refers to this topic.

Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.