January 28, 2023

Unexpected news for those who announce income tax

During his election campaign, the incumbent President of the Republic, Luiz Inacio Lula da Silva (Workers’ Party), promised to expand the scope of tax relief Individual Income Tax (IRPF) For those earning up to R$5,000 per month.

However, this long-awaited fix is ​​not expected to take place this year. The development minister, Wellington Dias, also said in November that the issue would be addressed throughout Lula’s government.

However, it is important to note that a project to reform the IR system is in progress in the National Congress.

Income tax return

almost tax authority It will open up the period for taxpayers to submit a tax return income tax. The procedure is very important for those who meet the requirements of the tax authorities.

According to the current rules, filing a return and paying tax will be required of the following audiences:

  • Taxable income received above R$28,559.70;
  • Receive exempt or non-taxable income or exclusively taxable income at source in excess of R$40,000;
  • having total annual revenue from rural activity in the amount of more than R$ 142,798.50;
  • intends to offset losses from rural activity in these or previous years with income from these or future years;
  • owned or possessed, on December 31 of the calendar year, assets or rights, including bare land, above the limit (BRL
  • 300,000.00);
  • Capital gains obtained from the sale of taxable assets or rights;
  • elects to be exempt from capital gains tax on the sale of a residential property, followed by the acquisition of another, within 180 days;
  • conduct operations on stock exchanges, commodities, futures and the like;
  • He became a resident of Brazil, in any month, and in this case it was on December 31 of the calendar year.

Delayed income tax schedule

contribution scenario Income tax It’s worrying. Low-income people are forced to pay the tax, given that the exemption band limit in the tax table is frozen at R$1,903.

This table was last corrected in 2015, when the current limits were also determined. However, at the time, the minimum wage was R$788, which forced only those earning more than 2.4 wages to declare the tax.

Applying this range today, when the minimum wage is R$1,320, the schedule ends up forcing a taxpayer who would receive only 1.5 wages to file the declaration. With real profits awarded as compensation, the demand is even greater.

Who is entitled to exemption from income tax?

As mentioned, some taxpayers may benefit from the income tax exemption. Below, check out the four key positions that warrant separation in Income tax.

1. Severe illness exemption

Citizens need not worry about IR if they have one of the following diseases:

  • blindness.
  • mental alienation
  • Parkinson’s disease;
  • active tuberculosis
  • severe tumor (cancer or metastasis);
  • leprosy (formerly known as leprosy);
  • acquired immunodeficiency syndrome (AIDS / HIV);
  • multiple sclerosis (a comorbidity affecting motor coordination and cognition);
  • Paget’s disease (a disease of the bones).
  • Irreversible and incapacitating paralysis.
  • Thalidomide syndrome
  • cystic fibrosis;
  • acute nephropathy (a disease that attacks the kidneys);
  • Severe liver disease (a disease of the liver).
  • severe heart disease.
  • Ankylosing spondylitis.
  • Radioactive pollution.

In this case, the interested party must submit a medical report signed by a SUS specialist certifying the validity of the disease. Next, the consumer must fill out a form and submit it to Revenue. Otherwise, the exemption cannot be granted.

2. Low-income exemption

Those whose incomes are less than R$28,559.70 in 2022 are also exempt from charging fees. Income tax. In practice, this means that the taxpayer was receiving an annual income below the prescribed minimum, which guarantees that he will be exempt from paying.

3. Age Exemption

Citizens over the age of 65 who have a total retirement or pension income of up to R$24,751.74 per year can benefit from the IR exemption. However, those who receive another source of income, such as rents, for example, will need to return and collect tax.

4. Exemption from maintenance

Finally, people who are classified as dependents in some other listing can benefit from the exemption. However, it will be necessary to issue a permit to the government system in order to be able to traverse the data.

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