Individuals and legal entities, including MEI, are required to declare income tax (IR) annually. However, taxpayers will benefit greatly.
Annually, individuals and legal entities, including MEI, are required to declare income tax. However, taxpayers will benefit greatly. This is a promise from President Lula, who has secured an increase in tax relief for individuals receiving up to R$5,000 per month.
However, it is important to stress that the measure should not come into force in 2023. This is because the proposal has yet to be discussed over the next few years from the Lula government.
Exemption from income tax
Initially, the project aims to repair Income tax For individuals, who are completely outdated, because they haven’t kept up with inflation over the past few years. Namely, the last update of the table was made in 2015.
Who does not need to declare income tax in 2023?
while the Federal government The income tax exemption rules for 2023 have not been updated, and the terms described in this order will be the same as this year. Therefore, the following are excluded from the IR declaration:
- Workers and retirees earned less than R$28,559.70 in 2022;
- seriously ill persons, upon submission of the medical report for the exemption request;
- People who have a retirement, pension or retirement income of less than R$28,559.70.
Diseases that guarantee exemption from income tax in 2023
See the following list:
- help;
- mental alienation
- severe heart disease.
- blindness (including mono);
- Radioactive pollution
- Parkinson’s disease;
- multiple sclerosis;
- Ankylosing spondylitis.
- cystic fibrosis;
- leprosy;
- severe liver disease;
- Acute nephropathy.
- metastasis (cancer);
- osteitis
- Irreversible and incapacitating paralysis.
- active tuberculosis.
Currently, only those who earn up to R$1903.98 do not need to declare income tax. On the other hand, other Brazilians must declare IR and pay a tax rate that increases as income also increases.
Check out the table below:
- 7% for those receiving between R$1,903.99 and R$2,826.65;
- 15% for profits between R$2,826.66 and R$3,751.05;
- 22.5% for those earning between R$3,751.06 and R$4,664.68;
- 27.5% for those earning more than R$4,664.68.
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