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Hello, Ana Claudia! Thank you for your interest in our content.
Some countries have relaxed the rules for determining tax residency during the pandemic period, and the OECD (Organization for Economic Cooperation and Development) itself has issued guidance to countries on the rules for determining tax residency.
impacts of Covid-19 on international treaties for the avoidance of double taxation of
income in April 2020. The IRS has not issued an opinion on the matter, so this issue in Brazil remains open.If your sister has lived abroad all this time, but has continued to file income tax returns normally, the assumption is that she is still considered a tax resident in Brazil.
If you'd like a detailed analysis, I'd be happy to arrange a chat with you, just call me onWhatsApp or by e-mail contato@tersi.adv.br!
Hello, Francisco! Thanks for the compliment and for your interest in our content.
According to the Central Bank's rules, non-residents cannot keep ordinary accounts once they have left the country, so the institution has rules for opening a special account for people domiciled abroad, known as a "non-resident account". "CDE account".
In addition to the requirement for a CDE account, the CVM establishes rules for non-resident investors, to which you referred, the cost of which is impractical for investors who are not large. At the moment, these rules persist, but we have been working to make it possible for non-residents to invest in Brazil at more affordable costs. We recently proposed an amendment to Provisional Measure 1,137/2022, which is still being voted on in Congress and which, if approved, will bring us closer to this goal.
I hope to bring you better news in the future. As you have signaled your interest in receiving our guidance, I suggest you contact us atWhatsApp or by e-mail contato@tersi.adv.brIt will be a pleasure to serve you!
Hello, Eliana! Thank you for sharing your question with us.
The tax charged on the sale of the property is levied on the capital gain and not on the total value of the sale.
It is important to note that the capital gain earned by a resident or domiciled abroad is calculated and taxed in accordance with the rules applicable to residents in Brazil. The Internal Revenue Service understands that only tax benefits (reduction of gain due to time, for example) are no longer applied to non-residents. The real estate agent's commission can be deducted from the gain.
I hope I've helped. If you need our support, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!
Hello, Leandro! Thanks for your interest in our content.
Remittances from an account in Brazil to another account abroad are subject to IOF at a rate of 0.38% on the value of the transaction. If the remittance is made between accounts of the same ownership, the rate rises to 1.1%.
I hope I've helped. If you need our support, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!Hello, Celso! Thank you for your interest in our content.
Unfortunately, the IRS believes that the exemptions provided for in article 35 of the RIR/2018 do not apply to non-residents, so that when you formalize your permanent departure, you would lose the right to the exemption and would be taxed at source at the flat rate of 25%. This is a case in which it would be possible to challenge this understanding of the Revenue in court, but we are not aware of any cases that have been judged in this regard.
I hope I've helped. If you need our support, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!
Hello, Cicera! Thank you for your interest in our content.
To answer your questions, we need to take into account that Brazil and the United States do not have an agreement to avoid double taxation and that under US rules, citizens and people with a greencard pay federal taxes in the country even when they do not reside there. Despite not having an agreement with Brazil, the countries have reciprocal treatment, so it is possible to offset the federal tax paid in the USA against the tax due in Brazil.
Thus, if you move to Brazil, you will be obliged to declare income in the country and, if the tax paid in the US has a lower rate than in Brazil, you will have to pay the difference here.
Although I can't make a detailed analysis of the situation because I don't have all the information on your case, I hope these brief comments have helped.
If you need our support or would like a specific analysis for your case, just contact us atWhatsApp or by e-mail contato@tersi.adv.brit will be a pleasure to serve you!Hello, João Paulo! Thanks for the compliment and for your interest in our content.
From reading your report, I understand that you plan to maintain dual tax residency. If this is the case, it is possible to continue investing in Brazil as a resident without having to register as a non-resident investor.
I hope I've helped. If you need our support, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!
Hello, Danilo!
With CVM resolution 64, non-resident individual investors are exempt from having to register with the Securities and Exchange Commission. This represents a cost reduction for the investor, since they would not have to pay the CVM inspection fee.
However, there is still an obligation to appoint a legal representative of the investor before the CVM, and the latter is obliged to send the requested information in an electronic system made available by the CVM before the start of operations. This part of sending information about the operations themselves is the main reason for the high cost of opting for this system.
I have been personally involved in changing the scenario for non-resident investors. We recently proposed an amendment to Provisional Measure 1.137/2022 with the aim of changing the responsibility of the legal representative of the non-resident investor. The MP is currently awaiting a vote in the National Congress so that it can be converted into law.
I hope to bring you news on this subject soon.
If you need our support in this and other related matters, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!Hello, Renato! Thanks for the compliment and for your interest in our content.
Non-residents are not required to file an income tax return. It is usually the buyer of the property who is responsible for paying the tax, who must withhold the corresponding amount at source when paying the price. In addition, tax exemptions and reductions do not apply when calculating a non-resident's capital gain
provided for residents of Brazil, so it will not be possible to benefit from the rule for old properties. For the RFB, only the real estate agent's commission is deductible.I hope I've helped. If you need our support, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!
Hello, Alexandre! Thanks for the compliment.
Very good question. We haven't found any clear guidance from the Receita on this, but it is possible today to request an update of the CPF data by e-mail, including the registration of the proxy. You can find government guidelines on this site.
In any case, if your current attorney-in-fact has to fill in a Dirf or carry out another transaction on behalf of your interests, all they have to do is inform you that the transaction is being carried out for a non-resident person and enter your details in the appropriate field.
If you need our support, just contact us atWhatsApp or by e-mail contato@tersi.adv.br!
Roberto,
thanks for your question. This exemption applies in a very specific situation: the person made a permanent departure (or was never a tax resident in Brazil), acquired an asset abroad and was only able to sell the asset after becoming a tax resident in Brazil. This is a useful exemption for those making the transition, for example, because they bought a property abroad and were unable to sell it before returning to Brazil, or have an investment portfolio abroad formed while they were not resident. If the exemption is revoked, income tax will be due in Brazil on the capital gain, regardless of the circumstances in which the asset was acquired abroad.
It's not very clear from your description whether this would be your case or not. In Brazil, anyone who files an income tax return every year is always considered a resident. Unlike other countries, in Brazil we don't have income tax returns filed by non-residents.
On this blog you will always find relevant, up-to-date information on the subject and guidance on how to avoid problems with the tax authorities and other authorities. Feel free to tell us about your experience, share the content with other friends who need guidance and contact us by e-mail at contato@tersi.adv.br or via WhatsApp. Click here to send a message now.
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