Brazil: Income Tax Return

last updated on 8 April 2022 | reading time approx. 2 minutes

The deadline for the Individual Income Tax "IRPF" declaration begins on 7 March 2022, the presentation of information on the income obtained in the year 2021 can be made available to the Federal Revenue until 29 April 2022. 

Individuals residing in Brazil will be required to submit it who, in the 2021 calendar year:

1. Received taxable income, the sum of which was greater than BRL 28,559.70, or in relation to rural activity, which obtained gross income in an amount greater than BRL 142,798.50;
2. Received income tax exempt, non-taxable or taxed exclusively at source, the sum of which was greater than R$ 40,000.00;
3. Obtained, in any month, capital gain on the sale of assets or rights, subject to the incidence of tax, or carried out operations on stock exchanges;
4. On 31 December, they had possession or ownership of goods or rights, with a total value exceeding R$ 300,000.00.

We emphasize that for Income Tax purposes, foreign citizens who stayed for more than 183 days in Brazil in 2021 are also considered resident.

Among the important aspects of the declaration for the year 2022, the following stand out:

• Deductions with dependents are limited to R$2,275.08 per dependent;
• Education expenses have an individual annual limit of R$ 3,561.50;
• The simplified discount deduction limit of BRL 16,754.34

This year it will also be possible to receive the income tax refund by PIX, as long as the PIX key is the CPF of the holder of the declaration.