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Income tax begins on March 2, see who is obligated to declare

Income tax begins on March 2, see who is obligated to declare

On March 2, the deadline for filing a personal income tax declaration (IRPF) for 2022 will begin. The start date of the commitment was officially set last week by Brazil’s Federal Revenue Service.

Thus, for this year’s income tax return, we have:

  • Delivery start from March 2nd;
  • Deliveries end at 23:59 on April 30th.

Last year, the IRS received a total of 34.1 million ads, up 6.8% from the 31.9 million ads delivered in 2020. However, the IRS said it expects the numbers to be higher this year than last year.

Who needs a permit?

According to a rule set by the Federal Revenue Service, citizens with taxable income of more than R$28,559.70 in 2021 are required to declare income tax.

Taxable income is those amounts received by the taxpayer and which may be subject to income tax, i.e. which are included in the return calculation.

Check out some examples of taxable income

  • Thirteenth salaries and training salaries
  • Benefits such as vacations, bonuses, and PLR (Profit Sharing)
  • Committees
  • Income from financial investments
  • Pensions and retirement
  • rental income
  • Rural activities such as livestock and extraction
  • Royalties like copyright
  • income abroad
  • Rewards related to services rendered

In general, the following taxpayers are required to declare income tax this year:

  • Those with a taxable income of more than R$28,559.70.
  • Taxpayers with exempt income over R$40,000.
  • Those who, in any month of the year to be announced, made capital gains from the sale of goods or carried out operations on the stock exchange.
  • Those who have chosen the tax exemption on the sale of a residential property to purchase another property within 180 days.
  • Those who, up to the last day of the year for which it was announced, had property with a total value of more than R$300,000.
  • Persons with gross income above 142.798.50 R$ in rural activities.
  • Everyone who comes to live in Brazil is announced in what month of the year.
  • Those who received emergency pandemic assistance, in any amount, and also had other taxable income in an annual amount greater than R$22,847.76.
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