Daniel Lima       Reporter Agência Brasil

Brasília – Last year, Brazil’s IRS (“Recieta Federal”) got 24.37 million income tax returns. This year it expects to top 25 million. The rules change slightly every year and there is a cost-of-living correction. The details can be found in the Federal Regsiter (“Diário Oficial da União”). Here are some important things to know about filing income tax in Brazil.

Any wage earner who made over R$23,499.15 must file (this was adjusted 4.5% - which is below official inflation of 6.5%).

In Brazil there is a simplified form that allows an across-the-board 20% discount. However, that amount must not exceed R$13,916.36 (last year the limit was R$13,317.09).

If the simplified form is not used, taxpayers must use the "complete" form. It permits deductions per dependent of R$1,808.28, and for educational expenses up to R$2,958.23 per dependent. There is no limit on deductions for medical expenses. 

The new income tax return form will be on the internet as of February 24. The Receita Federal begins accepting returns on March 1. The deadline for filing is April 31.

Allen Bennett – translator/editor The News in English

Link - Receita espera receber 25 milhões de declarações do IRPF 2012