Individuals residing in Brazil, who anually earn income above the limits informed by the Federal Revenue Service (Receita Federal), are legally obliged to submit the Brazilian income tax return, known as the Imposto de Renda de Pessoa Física (IRPF). The limits are as follows:

 

• Taxable income above BRL 28,559.70;

• Exempt, non-taxable income or income taxed exclusively at the source over BRL 40,000.00;

• Income from rural activity above BRL 142,798.50;

• Assets from BRL 300,000.00

• Performed operations on stock exchanges, commodities, etc.

 

When is the deadline?

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The deadline for sending the declaration is always in the months of March and April of the year following the income receipt period. For example, income earned in 2021 was declared in 2022.

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Who is exempt from declaring?

 

Anyone who has not had any of the income or assets listed above, or who is listed as a dependent on someone else's declaration, and who already has their income declared by them, if any.

 

Even if not required, anyone can submit the income tax return, as long as they are not included in another declaration as a dependent. For example, if the taxpayer who is not obligated, makes the declaration, he may receive his refund.

 

For more information click HERE.