Since Luiz Inácio Lula da Silva (Workers’ Party) was elected President of Brazil in October 2022, many rumors about PIX taxes have begun to circulate. However, nothing has yet been confirmed by the elected government. However, an official statement from the Central Bank, issued recently, put an end to these rumors. Find out here whether or not the transaction will be taxable from 2023.
The authorization was made by the financial institution after Lula took over as president. Various rumors worried bank customers. That’s because transfers and payments via PIX are free for most of them, which makes it easy to carry out this type of transaction directly from a cell phone.
An official statement from the Central Bank
It is true that the PIX system underwent changes earlier this week, which mark the early days of Lula’s return to the presidency for a third term. However, amidst the news, the Central Bank of Brazil has informed all clients that there are no expectations of a fee in connection with the PIX system.
This was the foundation’s way of putting an end to the rumors that had been circulating for several months. In addition, by noting, the central bank also emphasized that in addition to the lack of expectations, there is also no intention to change these reward rules. I was also informed that these determinations are contained in Resolution No. 19 of 2020 of the financial institution.
So, customers don’t have to worry about PIX being taxed. The system will continue to function normally for all users, regardless of the customer’s bank or anything like that.
See also: Pix will be limited? Understand what will happen to the system
How does PIX work now?
As said before, transactions via PIX are free for individuals, and in most cases for Individual Small Business Owners (MEIs) and individual entrepreneurs as well. However, taxes do occur for commercial sales. However, it is up to the bank to decide whether or not to tax these transactions. There is no rule.
The changes took effect on January 2, the first business day of the year. With these new features, there is no longer any limit per transfer, only the daily limit. This change allows the user to submit all the limit they need to use in a single day in one go.
Another novelty is related to the PIX Saque and PIX Troco limit, which increased from R$500 to R$3,000 during the day and from R$100 to R$1,000 at night. About the night limit, the customer can set the time. This is another important change. The period can start at 22:00, if the client wishes. All these changes must be implemented in all banks by July 3, 2023, as determined by the Central Bank.
know more: Pix just changed: Check out the new rules Lula has approved
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.