Due to the coronavirus crisis, the government announced that the deadline for filing Income Tax has been extended by 60 days.
This Wednesday, the 1st, in an interview at the Planalto Palace, the Secretary of the Federal Revenue, José Tostes Neto, announced the government's decision to extend the deadline for submitting the Personal Income Tax (IRPF) declaration by 60 days.
So from today onwards the declaration must be submitted by June 30, 2020.
“This deadline would expire on April 30 and is being extended for delivery on June 30. Therefore, there is a two-month extension of the deadline for individuals to submit their documents,” said the secretary along with other members of the government’s economic team.
According to the latest report released by the IRS on March 30, 8.1 million tax returns were received by the agency. The federal government expects 32 million taxpayers to file their tax returns this year.
Impact of coronavirus
Secretary Tostes Neto, two weeks ago, had stated that the IRS would evaluate the postponement of the deadline as a result of the advance of the new coronavirus pandemic in the country.
Totes had also informed that the agency would assess the impact of the crisis on taxpayers' ability to declare taxes.
For whom is it mandatory?
Those who received exempt, non-taxable or exclusively taxed income at source, the sum of which was greater than R$$ 40 thousand, those who obtained, in any month of the previous year, capital gains from the sale of assets or rights subject to the incidence of tax or carried out operations on stock, commodity and futures exchanges also need to declare Income Tax.
In relation to rural activity, taxpayers who obtained gross income exceeding R$142,798.50 are required to file a tax return. Those who had possession or ownership of assets or rights on December 31, 2019, including bare land, with a total value exceeding R$300,000, must also complete the tax return.