Income Tax: deadline to enter the 1st batch ends this 4th – 05/09/2023 – Market

Taxpayers who submit the 2023 Income Tax return by this Wednesday (10) and comply with some Federal Revenue rule that places them as a priority will be able to receive the refund in the first batch, paid on May 31.

According to the tax authorities, declarations received by May 10 will be eligible to enter the first batch, provided they are part of the priority order and do not fall into the fine mesh.

You are entitled to priority in the refund of the IR:

1. Seniors aged 80 and over
2. Seniors aged 60 and over; people with disabilities and people with serious illness
3. Taxpayers whose main source of income is teaching
4. Taxpayers who opted to make the pre-filled statement and also those who choose the Pix refund

This year, the list of priorities increased with the inclusion of those who used the pre-filled declaration (about 4.25 million, 22% of the 19.3 million declarations sent until the beginning of May) and who opted for the refund by Pix .

Last year, the first batch had 3.4 million taxpayers and paid R$ 6.3 billion. In 2023, 73.4% of the declarations submitted (about 14.2 million) so far will have tax to refund.

There will be four more payment batches between June and September, with deposits on the last business day of each month. The order will follow the list of priority contributors and the delivery date. About a week before the Revenue releases the consultation with those contemplated in each batch.

The refund is corrected by the basic interest rate of the economy, the Selic. The correction index is defined in the month and is usually released a little before the payment date.

SEE THE 2023 TAX REFUND PAYMENT SCHEDULE

Batch	Pay day
1st	may 31st
2nd	June 30
3rd	July 31st
4th	August, 31
5th	September 29th

Deadline to declare the IR in 2023

Delivery of declarations ends at 11:59 pm on May 31st and refunds will be paid in five batches, starting on May 31st. Between 38.5 and 39.5 million declarations are expected. In 2022, the tax authorities received more than 36 million declarations, above the initial forecast of 34.4 million.

WHO IS REQUIRED TO DECLARE INCOME TAX?

Taxpayers who, in 2022:

• Received taxable income above BRL 28,559.70, which includes salary, retirement and pension from the INSS or public bodies

• Received exempt income, non-taxable or taxed exclusively at source (such as savings income or FGTS) above BRL 40,000

• Had a capital gain (ie, profit) on the sale (transfer of ownership) of goods or rights subject to the levy of tax; this is the case, for example, of the sale of a car with a value greater than the amount paid for the purchase

• It was exempt from IR on capital gains on the sale of residential properties, followed by the acquisition of another residential property within 180 days

• Carried out operations on the Stock Exchange that, in total, exceed R$ 40,000 or obtained profit from the sale of shares, which are subject to the levy of tax

• Had, on December 31, possession or ownership of goods and rights, including bare land, in excess of R$ 300,000

• Obtained gross revenue in rural activity in an amount greater than R$ 142,798.50

• Do you want to offset losses from rural activity in 2022 or previous years

• He moved to Brazil in 2022 and was in that condition on December 31, 2022

WHAT IS THE MINIMUM AMOUNT TO DECLARE INCOME TAX?

The minimum amount of taxable income in the year is R$ 28,559.70. This includes salary, retirement and other income. Exempt, non-taxable income or income taxed exclusively at source in excess of R$40,000 also require you to declare. Examples are FGTS, savings and alimony.

Those who have assets worth more than R$300,000, when adding all of them, must also declare, as well as those who carried out operations on the Stock Exchange over R$40,000 or made a profit from the sale of shares, which are subject to the tax. .

ANNUAL INCOME TAX TABLE

Calculation basis (in BRL)	Rate (in %)	Installment to be deducted (in BRL)
Up to 22,847.76	–	–
From 22,847.77 to 33,919.80	7.5	1,713.58
From 33,919.81 to 45,012.6 0	15	4,257.57
From 45,012.61 to 55,976.16	22.5	7,633.51
Above 55,976.16	27.5	10,432.32

MONTHLY INCOME TAX TABLE

Calculation basis (in BRL)	Rate (in %)	Installment to be deducted (in BRL)
Up to 1,903.98	–	–
From 1,903.99 to 2,826.65	7.5	142.80
From 2,826.66 to 3,751.05	15	354.80
From 3,751.06 to 4,664.68	22.5	636.13
Above 4,664.68	27.5	869.36

WHAT DOCUMENTS ARE NEEDED TO DECLARE THE INCOME TAX?

The most important document is the income statement from paying sources, including the INSS retirement statement. Also have other documents in hand, such as medical receipts, proof of withdrawal from the FGTS (Senior Severance Indemnity Fund), if applicable, vehicle document, property documentation, rent receipts received, among others.