[Junior]

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Hello, if I work remotely from Brazil for an American company, receive my salary in dollars in an account there in the USA, and spend it here with the international card from this account, what kind of declarations do I need to make? And if I don't declare it, can the tax authorities find out about these transactions, given that the account is there? Is there any kind of link between the IRS and US banks? And what penalties apply in this case? Thank you for your help.

[Junior]

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Dear Tersi,
First congratulations on the site and the quality and accuracy of the information in your posts. I have seen so many wrong suggestions on other blogs, from brokers and investment information, that I worry about those who are starting to invest abroad while residing in Brazil. I always recommend your site.

About this post. There are also cases of gains on investments acquired with income in reais in which either there is no taxable CG, or this CG is very small (due to negative exchange rate variation) when compared to a significant effective gain from the investment in US$, for example. In addition to not knowing whether this effective gain should be considered as Foreign Currency when there is no Taxable CG, I am concerned that, as there is no CG, or it is small, how does this significant increase in assets in Goods and Rights without a counterpart in Income look in the DAA because the GCAP did not generate Income. Suj. Tax There is no exchange variation to classify it as exempt (in common parlance, apparently without origin).

I also read your comment on S. Consulta 115 /2021 and it really came to complicate things because abroad the current trading account is an account for moving between applications, receiving dividends, interest on capital, multi-currency FOREX, sometimes it earns interest or not, always tiny, when not negative!

Once again, congratulations on the site and your work, a reference in this field.

[Author]

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