O Federal government studies the initiative to use the rise in tax collection to reduce the Income tax, to achieve a large range of exemption. Although the idea of reduction is not new, this new study promises to be a great option. Initially, the measure predicts that the government will use the resources collected from taxes to enable the reduction in the IR.
This may be possible because in 2022, in the month of February, around 148 billion reais were collected, 5.27% more than in 2021. In addition, the month of January was also profitable, around 384 billion reais, this is the best collection performance since 1995.
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In this article we will discuss how the reduction of income tax is expected to happen and who can benefit from the measure. If you are curious about this subject, read it in full!
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Who can benefit from the Income Tax reduction?
It is not yet known whether the Income Tax reduction will be valid for individuals and legal entities or both. Indeed, the Federal Government has different plans for collecting these two categories, due to the difference in the taxes they pay.
The category of individuals, workers, pay about R$ 1,903.98 per month in IRPF. As for the IRPJ, collection is not considered satisfactory and, therefore, the State wants to increase this remittance, stimulating investment.
In fact, these collections are also used in other areas of the country, so it is not possible to be sure that the tax will actually be reduced. For example, part of the resources has already been used to reduce the Tax on Industrialized Products, or IPI, by 25%.
The Minister of Economy, Paulo Guedes, says that this measure is being evaluated while the Income Tax reform is not approved. The text of the reform has already been approved by the House, but ended up buried by the Senate, so the changes will not be implemented.