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We have a daughter (30 years old) who lives in Canada and has made her final declaration to leave the country. We (my husband and I) occasionally make remittances to her account and the reason is "Donation or other transfer without consideration". In the tax return, we declare it under DONATIONS MADE - code 80. We live in Rio de Janeiro and don't pay ITCMD - the exemption is 11250 ufir and the donation doesn't amount to that. Do we have to pay any income tax? If so, how do you pay it and where do you declare it on your tax return? We've read that we have to pay IR at a rate of 15% or 20%, depending on the country of destination, but we can't understand whether we have to pay anything or not and what the rate is.
Thank you.