Uncategorized
Income Tax is free for 20 million Brazilians
Survey shows that around 20 million Brazilians should be exempt from income tax. Check the details
Advertisement
Income Tax: Survey by the National Association of Tax Auditors (Unafisco) shows that around 20 million Brazilians should be exempt from income tax. This would be the exemption level if the contribution table were adjusted annually based on inflation.
The income tax table has not been regularly updated since 1994, when the real plan was implemented. The last correction was in 2015. The tax was postponed for eight years, which harmed Brazilian workers.
Without updating the Income Tax table, workers who receive R$ 1,903.98 per month are exempt from tax. Unfortunately, this is the reality of only 8.9 million Brazilians. If the correction occurred regularly, the tax would be free for 29.7 million taxpayers.
With no change to the income tax table, the estimated revenue for this year is R$ 403.6 billion. If all inflation were accounted for, the country would collect R$ 167.3 billion, around R$ 236 billion less. This drop in revenue explains the government's difficulty in implementing changes to IR.
Who is entitled to exemption from Income Tax?
When it comes to being exempt from paying income tax, there are some specific cases that need to be observed. Are they:
Serious diseases
Persons suffering from the following serious illnesses, provided that they receive income exclusively from a pension, pension, old-age pension (in the case of military personnel) or other social security benefits:
- AIDS;
- Mental alienation;
- Severe heart disease;
- Blindness (including monocular);
- Radiation contamination;
- Parkinson's disease;
- Multiple sclerosis;
- Ankylosing spondyloarthrosis;
- Cystic fibrosis;
- Leprosy;
- Severe liver disease;
- Severe Nephropathy;
- Malignant neoplasm (cancer);
- Osteitis deformans;
- Irreversible and Disabling Paralysis;
- Active tuberculosis.
It is worth noting that the patient cannot carry out any paid activity. If you do, you will lose your exemption.
retired
From the age of 65, the elderly person is exempt from income tax if the sum of social security income reaches R$ 24,751.74 per year. If this amount is exceeded, the excess is taxable.
Remember that the pensioner is exempt from tax and not from declaration. If you meet the criteria established by the federal tax authorities, which requires you to declare, even when exempt from income tax, the taxpayer must send an annual declaration.
Dependents
If you appear as a dependent on someone else's declaration, you are exempt from declaring and paying income tax, as the person who will pay the tax on your behalf will be the declarant.
More news on the portal: ☕ CoffeePost:
- INSS: New group of Retirees and Pensioners Received this Tuesday(4)
- Can Birthday Withdrawal Cancel Unemployment Insurance?
- INSS: See the Review of Benefits for This New Group
- White Vinegar: Discover the benefits of using it in washing clothes here
- Government confirms the release of 3 payments in the second week of April
About the author / Tiago Menger
Trending Topics
Tactics to create sparks on the Tinder app!
Discover the secrets to success on Tinder with our practical guide. Learn how to optimize your profile and increase your chances of getting a match!
Continue lendoSee 11 professions for those who don't like dealing with the public
There are several professionals with the most varied types of profiles. However, there are those who are introverted and end up preferring professions that don't involve many people.
Continue lendoBolsa Família and minimum wage will receive an increase from March
After the Carnival period, new developments will occur for Bolsa Família beneficiaries and also for the minimum wage.
Continue lendoYou may also like
Bolsa Família: Payment of the additional installment may be limited; Understand
With the payment of the additional Bolsa Família scheduled for March, the Government hopes to finalize the registration process in February.
Continue lendoFGTS: New PRONOUNCEMENT worries Brazilians
The Service Time Guarantee Fund (FGTS) was created to ensure that workers can support themselves financially in cases of dismissal.
Continue lendo7 Stages of Application Testing: How to Automate for Continuous Security
With cyberattacks becoming more sophisticated, organizations are increasingly aware of protecting their web applications.
Continue lendo