It is crucial to comprehend the statement details to prevent unexpected outcomes when dealing with Income Tax (IR) as 2025 approaches.
Our team put together a comprehensive guide containing key details about the IRPF tax return, including essential dates, declaration requirements, required documents, and updates for the current year.
When is the deadline for filing the IRPF statement in 2025?
The official date for the 2025 Income Tax statement delivery window has not been announced yet, but it is anticipated to run from March 17 to May 31.
Taxpayers have time to gather their documents and avoid rushing at the last minute thanks to this deadline, which considers the dates set in the previous year (from March 15th to May 31st).
The IRS stated that the official dates will be available by the end of March’s first half.
Who is responsible for reporting income tax in 2025?
The requirement to report the IRPF applies to various tax situations.
Those who meet any of the specified criteria during the base year 2024 must be reported.
- Having earned a taxable income exceeding R$ 30,639.90.
- Receive income, whether tax-free or taxable, only from the specified source exceeding R $ 200,000.
- Annual gross income from rural activities must exceed R$ 153,199.50.
- Possessions and assets, such as undeveloped land, valued at over R $ 800 thousand.
- Engage in transactions on the Stock Exchange or make profits from selling goods.
For real estate sales, it’s important to report only any profit made.
This indicates that the property was sold for more than it was originally purchased for.
- The cost of acquiring the item is the same as the total amount spent on your purchase. If you are financing, it includes the cost of the initial payment plus the value of the installments.
- The residential property is exempt from taxes if it is owned solely by the seller, its sale value does not exceed 440 thousand reais, and the seller has not sold any other property in the last 5 years, whether taxed or not.
- Real estate acquired before 1999 is not subject to tax if it is exchanged without any monetary difference or involvement of other assets.
- The tax is waived on the sale of property if the proceeds are used to buy another property within 180 days or to pay off another property within the same timeframe.
- It is important to report the sale of the property in your statement, even if it is exempt.
Who is able to make a joint declaration for the personal income tax return?
Spouses and individuals in a stable and interdependent relationship have the option to select a joint filing.
This method enables the consolidation of earnings, spending, and deductions, which can simplify the calculation of payments or refunds in certain situations.
Who does not need to pay IRPF?
For 2025, the income tax exemption threshold will stay the same as it was last year at R$2,259.
Documents needed for Income Tax Return 2025
Organizing documents is essential for preventing mistakes and tax complications.
Explore the necessary items.
Personal record:
- CPF holder, dependents, and beneficiaries.
- Title of Voter
- Evidence of a current address.
- If you have reported your earnings for the year 2024, provide evidence.
Income Statements:
- Income statements obtained from sources of payment (such as salary, wages, profit sharing, rental income, etc.).
- Reporting income to the INSS is required for individuals receiving a pension from the government or a private entity.
- Income statements of dependents, if relevant.
- Banks and brokers offer financial income reports, such as invoices and application incomes.
- Reports of court proceedings;
- Income statements from overseas (if applicable).
Evidence and documentation.
- Records of rental income collected.
- Evidence of book-box costs for independent professionals such as lawyers, doctors, dentists, psychologists, and others must be provided.
- Tax descriptions and documentation of payments made for medical and health expenses.
- Evidence of spending on education for the cardholder and their family members.
- Records of gifts and inheritance (amounts, recipients’ names, and CPF numbers).
- Goods and rights relationships, such as purchase and sale paperwork for items like mobile phones, cars, boats, airplanes, etc.
- Documents needed to prove alimony payments (recipient’s name and CPF).
What expenses are eligible for deduction from the income tax?
Some expenses can be excluded from the tax calculation, leading to a decrease in the amount owed or an increase in the refund.
Main deductions include:
- Medical expenses are covered without a deduction limit, including consultations, examinations, treatments, and procedures carried out by healthcare professionals or institutions.
- Education spending covers costs for different levels of education such as regular, undergraduate, graduate, master’s, and doctoral studies, with set maximum amounts per individual.
- Contributions during pregnancy are made to both the official pension system and private pension plans (PGBL).
- Pension payments for aliens can be completely subtracted.
- Other deductions include expenses for dependents and, in certain situations, contributions to recognized organizations.
How to report Income Tax?
There are three primary pathways for the declaration.
- The e-CAC portal, available on the IRS website, is perfect for online inquiries and submissions.
- My Income Tax Application enables users to file taxes on their mobile devices.
- PGD Declaration Generator Program allows users to download the software onto their computer for offline statement filling.
When accessible, the prefilled statement can simplify the process by automatically inputting income, deduction, and goods details.
IRPF updates for 2025
The changes introduced in the IRPF 2025 scenario are expected to influence how tax returns are filed and taxes are calculated.
Proposal to modify the range of tax exemptions for the Personal Income Tax.
Minister Fernando Haddad’s announcement about raising the tax exemption limit to R $ 5,000.00 still requires approval from the National Congress for implementation.
This adjustment is intended to help a large number of taxpayers by lessening the tax load for those earning lower incomes.
Health Recipe on Income Tax Return
Health professionals like physicians, dentists, and psychologists are encouraged to utilize the Health Recipe app for generating care receipts.
By 2025, it is necessary to provide customers with compulsory receipts through the app. In 2026, the receipts from 2025 will be automatically included.
This measure aims to incorporate the vouchers into the statement directly, which will reduce discrepancies and make it easier to verify deductible expenses.
Law number 14.754/2023
Law No 14.754/2023 added a new section to the report for calculating earnings from financial activities and overseas profits and dividends.
These earnings will be subject to a 15% tax rate.
Professionals engaged in international investments need to pay special attention to this new development to ensure compliance with tax regulations.
Income tax refunds
IRPF refunds are issued in groups, with preference given to taxpayers who submit error-free and complete statements.
The initial lots typically include:
- Elderly individuals aged 80 and above, as well as those between 60 and 79 years old.
- Individuals with disabilities or unique health needs;
- Contributors who primarily rely on income from teaching;
- Those who opt for the pre-filled form or the receipt through PIX.
What were the tax brackets for 2025 according to the IRPF table?
The IRPF table for 2025 will keep the same format as the 2024 table. For detailed information, please refer to our article on the 2025 Income Tax Table.
Planning the 2025 Income Tax statement is crucial for preventing unexpected outcomes and meeting tax requirements.
Taxpayers will be well-prepared for the tax declaration period if they organize documents, stay informed about new laws, and take advantage of deduction opportunities.
References:
https://www.gov.br/receitafederal/pt-br/assunts/my-imposed-of-budget
The website link is https://www.gov.br/receitafederal/en/subjects/my-revenue/taxes/news
https://www.gov.br/revenue-service/en/topics/my-tax-return/penalty
Frequently Asked Questions
Who is responsible for paying Income Tax in 2025?
Taxpayers who meet certain criteria must file IRPF 2025.
- Taxable income exceeding R$ 30,639.90.
- Income above R $ 200 thousand is either tax-exempt or taxed at the source.
- Rural recipe exceeding R$ 153,199.50.
- Goods and assets totaling more than 800 thousand Brazilian reais.
- Stock market transactions or profits from investments.
- Brazil will move to a new location in 2024.
When will IRPF 2025 be launched?
The program for filing the IRPF 2025 is set to be released in the first half of March, with the sending deadline likely to begin around March 17, as March 15 falls on a Monday and may be postponed.
How to file income tax return for 2025?
The statement can be communicated via three primary methods.
- Directly sending to the Federal Revenue Service’s Recipe website through the e-CAC portal.
- My Income Tax Application is accessible on mobile devices.
- The Declaration Generator Program (PGD) is software designed for offline completion, and it can automatically import information such as income, deductions, and assets when a pre-filled statement is accessible, making the process more efficient.
What is the timeframe for the company to submit the earnings report?
Companies and financial institutions need to submit income reports by Friday, the 28th, to ensure taxpayers have enough time to prepare their IRPF statement.
What should you do if the company fails to provide the earnings report?
The taxpayer is required to submit the income report promptly if it is not received on time.
- Contact the HR department of the company or the manager of the financial institution.
- If the delay continues, it is advisable to consult with the Federal Revenue for guidance to resolve the situation and prevent issues with the statement.
What are the consequences of not paying the Income Tax?
How can I determine if I owe income tax?
The taxpayer needs to confirm the presence of debt.
- Compare the tax withheld at the source and the allowable deductions with the amount computed in the statement.
- To oversee the handling of the statement by the Federal Revenue, which will indicate if there is a payment due or a refund.
- Check your tax status on the e-CAC Portal, which contains information on debts and outstanding payments.
Which debts am I required to report on my Income Tax return?
All debts that make up the financial status must be disclosed, including:
- Loans and funding recorded in bank statements and agreements.
- Obligations related to financing for assets like real estate and vehicles.
- Other obligations that might affect the capital gain calculation or the valuation of assets and rights must be accurately reflected in the statement to ensure proper and transparent tax clearance.
