Deadline approaching – 11 million people have not filed their 2020 income tax return
There are only 9 days left until the deadline for filing the 2020 IR (Individual Income Tax) declaration and more than 11 million taxpayers have not yet sent the document with the database to the Federal Revenue Service.
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According to the National Supervisor of IRPF (Individual Income Tax), tax auditor Joaquim Adir, the expectation is that 32 million declarations will be submitted this year.
Therefore, according to the survey released by the Federal Revenue Service, 20,983,070 declarations had been submitted by 5 pm on Friday (19).
Therefore, if the taxpayer misses the deadline for filing, he/she will be subject to payment of a fine of a minimum value of R$165.74 and a maximum of R$20% of the tax due.
Therefore, the warning is for taxpayers not to leave it until the last minute.
In fact, due to the coronavirus pandemic, the deadline was extended from April 30th to June 30th.
"It's important for the declarant to gather the documentation and begin filling out the form to avoid last-minute delays, as many questions arise at this point," says Joaquim Adir.
Main information about the 2020 IR declaration
There are always some doubts that arise regarding this statement and it is important to clarify each one of them.
Delivery time
The deadline for delivery is June 30th, remembering that the initial deadline was not this, but it was changed due to the pandemic.
Who needs to declare?
- Anyone who received taxable income, subject to adjustment in the declaration, the sum of which was greater than R$ 28,559.70;
- Anyone who, in any month, obtained a capital gain from the sale of assets or rights, subject to the incidence of tax, or carried out transactions on stock exchanges, commodities exchanges, futures exchanges and similar exchanges;
- Anyone who became a resident in Brazil in any month and was in that condition on December 31;
- Anyone who opted for exemption from income tax on capital gains obtained from the sale of residential properties, the proceeds of which are used to purchase residential properties located in the country, within 180 (one hundred and eighty) days from the execution of the sales contract, pursuant to art. 39 of Law No. 11,196 of November 21, 2005;
- Regarding rural activity, who:
– Obtained gross revenue in an amount greater than R$142,798.50;
– Intend to offset, in the calendar year 2017 or later, losses from previous calendar years or from the calendar year 2016 itself;
– Anyone who, on December 31, had possession or ownership of assets or rights, including bare land, with a total value exceeding R$ 300,000.00.
Penalty for failure to submit the 2020 IR return
- Minimum fine of R$ 165.74 (only for those who were “obliged to declare”, even without tax to pay);
- Fine of 1% per month of delay, calculated on the amount of tax due in the declaration, with this fine limited to 20%.
How to prepare?
By computer, using the PGD (Declaration Generator Program) for the 2019 fiscal year, available on the website Brazilian Federal Revenue Service.
Also by computer, by accessing the My Income Tax service, available at the Virtual Service Center (e-CAC) on the website Brazilian Federal Revenue Service, with mandatory use of the Digital Certificate (of the taxpayer or representative/attorney).
