Income Tax 2023: whoever sold the car at a profit must pay tribute; know how

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If the sale was made more than a month ago, the taxpayer will need to pay fines and interest before posting it on the 2023 Income Tax. Arte / g1 During the pandemic, used vehicles appreciated due to the supply crisis in the sector automotive. The phenomenon persisted into 2022 and many citizens profitably sold their used cars. Gains from this sale are subject to capital gain tax. And, if the sale was made and the tax was not collected until a month later, it will need to be released with penalties and interest. ALL ABOUT INCOME TAX 2023 IR 2023: how to declare the sale of a car “The capital gain happens when there is profit from the sale of an asset, whether real estate or furniture. The taxpayer usually makes this association with the sale of shares, but also applies to automobiles, jewelry and works of art, for example”, says Antonio Gil, a tax specialist and partner at EY consultancy. To find out how to declare the sale of cars at a profit, g1 has prepared the step-by-step guide below. Exemption up to R$ 35,000 First you need to check the sale value of the car. Vehicles sold for up to R$ 35,000 are exempt from taxation. But the profit must be reported on the Exempt and Non-Taxable Income form. If the amount is greater than R$ 35,000, the profit must be calculated using the Capital Gains program (Gcap). This is a separate program, which is not included in the IRPF platform. Step by step to declare car sale The taxpayer must download the Gcap on the Federal Revenue website; Important: you must use the Gcap of the year the car was sold (car sold in 2022, Gcap 2022); In Gcap, look for the “Rights/Movable Assets” tab. There, you will need to fill in all the fields, such as the buyer’s personal data, purchase and sale value. The tax will be demonstrated right there; With the item completed, the taxpayer must generate, in Gcap itself, the Federal Revenue Collection Document (Darf) for payment of the tax; A file will also be generated in Gcap that will be imported into the IRPF program, which will add data on capital gains and tax calculated on the vehicle sold to the field of Income Subject to Exclusive and Definitive Taxation; To do so, go to the “Imports” menu and then “Capital Gains”. You insert, from your computer, the file generated in Gcap. For more details, g1 further explained how to declare the sale of vehicles. Attention with the delay All tax assessment for the sale of vehicles with profit must be done until the month following the sale. Anyone who has not done the above process in that interval will need to update the Darf generated by Gcap. Then, the taxpayer will have to submit the document to the Legal Additions Calculation System (Sicalc) so that it can be updated with fines, interest and a new salary. Only after that the Darf will be attached to the declaration. Who needs to declare the IR in 2023 who received taxable income above R$ 28,559.70 in 2022. The amount is the same as last year’s IR declaration. taxpayers who received exempt income, non-taxable or taxed exclusively at source, whose sum was greater than R$ 40 thousand last year; who obtained, in any month of 2022, a capital gain on the sale of assets or rights, subject to the levy of the tax, or carried out operations on stock exchanges, commodities, futures and the like; who had, in 2022, gross revenue in excess of R$ 142,798.50 in rural activity; who had, until December 31, 2022, possession or ownership of goods or rights, including bare land, with a total value greater than R$ 300,000; who became a resident in Brazil in any month and was in this condition until December 31, 2022; who opted for exemption from the tax levied on the amount obtained from the sale of residential properties whose proceeds from the sale are applied to the acquisition of residential properties located in the country, within a period of 180 days, counted from the conclusion of the sales contract.

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