Income tax is a federal tax levied on the income and earnings of Brazilian taxpayers, as well as on income from sources located in the country of individuals and legal entities residing abroad. It is regulated by the Federal Revenue and is charged annually, during the period known as the “income tax return”.
The income tax declaration is a mandatory process, where the taxpayer will need to inform all his income and expenses, such as salaries, pensions, rents, investments, medical and educational expenses, among others.
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The Federal Revenue informed last Tuesday (14), that the deadline for the delivery of the declaration of the Individual Income Tax 2023 (base year 2022) will start on the day March 15th and runs through May 31st. The big news is that taxpayers will have, this year, a longer period to present the document to the Treasury, since in previous years the period ended in April.
According to the Federal Revenue Service, the purpose of the amendment is to allow all taxpayers to benefit from the pre-filled declaration from the beginning of the delivery period. According to the national supervisor of the Income Tax Program, tax auditor José Carlos Fernandes da Fonseca, the pre-filled statement will provide fewer errors and greater convenience to the contributor.
The pre-filled declaration exists since 2014, however it was necessary to have digital certificate to use it, which restricted the number of users. This type of statement has information relating to income, deductions, assets and rights, and debts and real encumbrances and that are loaded automatically, without the need for the citizen to type, facilitating the declaration of the tax.
Income tax is one of the main taxes in the country and is used by the government to finance expenditures in areas such as health, education, infrastructure and public safety. For this reason, it is necessary to declare every year.
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