The Federal Revenue has extended the deadline for reporting the Income Tax Return

Taxpayer now has until May 31 to comply with the tax obligation

The Federal Revenue published in the Official Gazette on this Monday, April 12, the RFB Normative Instruction 2020, which changed the deadline for reporting the Annual Adjustment Statement of the Individual’s Income Tax Return for 2021. The deadline was extended from April 30 to May 31, 2021.

The extension of the deadline is a way to ease the difficulties imposed by the coronavirus pandemic on citizens, according to the tax agency.

In this same sense, the deadlines for filing the Statement of Final Estate and the Definitive Country Exiting Statement, as well as the payment of the tax related to the statements, were also extended to 31 May.

Income tax return schedule

The RFB also informed that the Income Tax return schedule was maintained. Thus, the first lot will be paid on May 31, and the last on September 30.

The schedule is divided into five lots:

1st lot: May 31, 2021

2nd lot: June 30, 2021

3rd lot: July 30, 2021

4th lot: August 31, 2021

5th lot: September 30, 2021

Compulsory reporting

Those individual taxpayers residing in Brazil must report the Income Tax Return that:

• Received, in the calendar year 2020, taxable income greater than BRL 28,559.70 subject to reporting.
• Concerning the rural activity:

- earned a gross revenue greater than BRL 142,798.50; or

- intends to offset, in calendar year 2020 or later, losses from previous calendar years or the calendar year 2020 itself.

• Received exempt, non-taxable or exclusively taxed income, whose sum was greater than BRL 40 thousand.
• Had, in any month, a capital gain on the sale of assets or rights, subject to tax, or carried out transactions on stock exchanges, commodities, futures and the like.
• Had, on December 31, possession or ownership of goods or rights, including bare land, with a total value greater than BRL 300 thousand.
• Opted for the exemption from Income Tax on the capital gain earned on the sale of real estate, if the proceeds of the sale are applied to the acquisition of residential properties located in Brazil, within 180 days, counted from the conclusion of the sale, pursuant to Article 39 of the Law 11196/2005;
• Received emergency assistance to confront the public health emergency of international concern arising from the disease caused by the coronavirus identified in 2019 (Covid-19), in any amount, and other taxable income in an annual amount of BRL 22,847.76.
• Became a resident in Brazil in any month and remained in that condition on December 31.

Specialized support for different taxpayer profiles

The Individual's dedicated area at Domingues e Pinho Contadores provide service to taxpayers of different profiles, always adopting best practices to comply with this tax obligation. Rely on the DPC’s team for the preparation and transmission of 2021 DIRPF. Contact one of our specialists: dpc@dpc.com.br.