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Income Tax 2025: See 8 questions and answers about this year's tax filing
The deadline for taxpayers to settle with the "leão" is May 30th
The 2025 Income Tax season is coming to a close, with the deadline approaching on May 30th. Those who haven't filed yet need to get organized to meet this obligation. To help you better understand the rules for this year, we've gathered some questions and answers. Take a look!
1. Who must file the Income Tax 2025?
The declaration is mandatory for those who, in the previous year:
- Received taxable income above BRL 33,888.00 (salaries, pensions, etc.).
- Received exempt or non-taxable income that exceeded BRL 200,000.00 (donations, inheritances, etc.).
- Had gross revenue from rural activities greater than BRL 169,440.00.
- Owned assets and rights worth more than BRL 800,000.00 on December 31, 2024.
- Made financial transactions totaling more than BRL 40,000 in the year, such as investments in the stock market.
- Sold assets with capital gains subject to tax.
- Became a resident of Brazil in 2024.
- Earned income abroad from financial investments and dividends.
2. Who is exempt from filing the Income Tax return?
You may be exempt from filing the Income Tax return if:
- You receive only exempt income, such as retirement or savings, and it does not exceed the exemption limit.
- You are a dependent included in another taxpayer's return and do not have significant income or assets.
- You fall within the exemption range, which this year is BRL 2,824.
3. What expenses can be deducted in the tax return?
You can deduct the following expenses, which may reduce the amount of tax to be paid:
- Health: Expenses with health insurance, medical consultations, treatments, and medications.
- Education: Costs with courses, universities, and postgraduate studies (except for free courses).
- Dependents: Up to BRL 2,275.08 per dependent.
- Private Pension (PGBL): Deduction of up to 12% of the total taxable income.
- Alimony: When determined by court order.
- Donations: Made to registered charitable organizations.
4. Who can file jointly?
Spouses, people in a stable union, and dependents can choose to file jointly. In this case, all assets and income will be combined into a single return.
5. And those who received an inheritance?
Those who received an inheritance, which is considered exempt income, are not necessarily required to file, but there is a point to be aware of: those who owned assets exceeding BRL 800,000 as of December 31 of the previous year or received exempt, non-taxable, or exclusively source-taxed income, which together total more than BRL 200,000.
6. And those who incurred losses in the stock market?
Only those who made sales above BRL 40,000 are required to file.
7. Who declares alimony?
It is the responsibility of the beneficiary to declare the receipt of alimony determined by a court order, judicially approved agreement, or public deed. If the beneficiary is a dependent on someone else's return, the receipt of the alimony must also be included in the return.
8. What if someone is required to file but does not file the Income Tax Return?
Failing to file the Income Tax return may result in:
- Fines for late submission: You may have to pay a fine of 1% per month on the tax due, with a minimum amount of BRL 165.74
- CPF restriction, making it difficult to obtain credit or participate in public tenders.
How can DPC help your company?
Domingues e Pinho Contadores has specialized team ready to assist your company.
Contact us by the e-mail dpc@dpc.com.br
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