As usual for some people, now in 2023 you have to declare income tax. Recently, it was published that the statement for individuals, this year, ends on May 31.
But after all, do you know what the consequences are if you don't declare the Income Tax? See more details below:
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It is important for people who need to declare income tax to be aware of the established deadline, as those who do not transmit the document will be subject to a fine of 1% per month on the total amount.
In addition to the fine, is there any other type of penalty?
In addition to the fine, people who fail to declare the Income Tax run the risk of having their Individual Taxpayer Registration (CPF) pending regularization. They may also have difficulties obtaining passports and getting loans.
In more serious cases, the Federal Revenue has the right to investigate the financial situation of the taxpayer, who may be accused of tax evasion.
How is the penalty charged?
After the deadline for submitting the declaration, the taxpayer will be subject to a fine, which will be generated automatically. If you do not regularize your situation within 30 days, interest and monetary correction will be charged at the Selic rate.
Some points that inform that the person needs to declare the tax
- People with taxable income above BRL 28,559.70;
- Who had annual gross income in rural activity above R$ 142,798.50;
- Who obtained capital gain or alienation of assets or rights;
- Who carried out operations on the stock exchange, commodities, futures and similar;
- Who had possession or ownership, on December 31 of the calendar year, of goods or rights, including bare land, above R$ 300 thousand;
- Those who received exempt income, non-taxable or taxed exclusively at source above BRL 40,000.