INCOME TAX: find out what the consequences will be for those who do not declare it within the deadline

Forgetfulness, lack of organization or even knowledge may be among the main reasons why taxpayers do not file their income tax return on time. In this context, the accounting specialist, Wilson Pimentel, advises that the documentation be organized in advance, so that inconvenience and possible errors are avoided.

“The wrong filling generates a fine mesh, that is, the declaration is suspended and the Federal Revenue sends subpoenas for it to be regularized. You must declare in the correct time so that you are not penalized with fines. The income tax fine starts at R$165.74 and goes up to 20% of the total tax charged”, he highlights.

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Income Tax: check refund schedule

This year, the deadline for filing income tax returns is May 31. The value of the fine begins to count on the first day after the final date of the deadline for delivery of the declarations and ends its count on the date of submission of the declaration. If it is not delivered, the count of the fine will end on the date of official release by the Federal Revenue Service.

Who is obliged to declare the Income Tax 2023

Taxpayers who received taxable income above R$ 28,559.70 in 2022. The amount is the same as last year’s declaration.

Taxpayers who earned more than BRL 40,000 exempt, non-taxable or taxed at source in the year – such as labor compensation or savings income.

Taxpayers who obtained in 2022 a capital gain from the sale of goods or rights, subject to the levy of the tax, or carried out operations on the Stock Exchange or in the capital market whose sum was greater than R$ 40 thousand or with calculation of net gains subject to the levy of the tax.

Those who received more than R$ 142,798.50 in rural activity or had rural losses to be compensated in the calendar year 2022 or in the coming years.

Taxpayers who owned assets, including bare land, worth more than R$300,000.

Taxpayers who moved to Brazil in any month of 2022 and stayed here as a resident until December 31st.

Taxpayers who obtain, in any month, a capital gain on the sale of goods or rights subject to the levy of the tax.

How to make the statement

Income Tax returns can be made through the Income Tax Program (PGD/2023). Another possibility is online, via e-CAC and the My Income Tax app. The program is available for download on operating systems such as MacOS, Linux, Windows, among others.

By Brasil 61