Estate declarations have been postponed due to the advance of the coronavirus pandemic. The IRS has set June 30 as the new deadline.
The Federal Revenue Service published yesterday, Tuesday (7), the advance of the deadline for submitting the Final Estate Declaration and the Declaration of Definitive Departure from the Country. The new deadline was changed to June 30. The last date was the 30th of this month.
The reason for the extension is the advance of the coronavirus pandemic in the country. The changes were published in Normative Instruction RFB No. 1,934, of 2020, in an extra edition of the Official Gazette of the Union.
“The measure is justified by the difficulties arising from social isolation caused by the coronavirus. The aim is to protect the population by preventing the gathering of taxpayers at the Federal Revenue’s service units, as well as companies or financial institutions, when seeking income reports, and at the offices of professionals or entities that provide assistance in filling out tax returns. Thus, the aim is to contribute to the government’s effort to reduce the spread of the disease,” said the Revenue, in a statement.
New standard
With the new rule adopted, the Final Estate Declaration must be submitted by June 30, 2020. And the respective tax must be paid by the same date, in the following cases:
I – the judicial decision on the division, further division or award of the inventoried assets occurred up to the calendar year of 2019 and became final by the last day of February of the calendar year of 2020;
II – the public deed of inventory and division was drawn up in the calendar year 2019; or
III – the final judgment of the judicial decision on the division, additional division or award of the inventoried assets occurred between March 1 and December 31 of the calendar year 2019.
In the case of the Declaration of Permanent Departure from the Country, it must be submitted by June 30, 2020 and the respective tax must be paid by the same date. In cases where the individual resident in Brazil left the national territory: permanently during the calendar year of 2019; or temporarily and completed 12 consecutive months of absence in 2019.