Extension of the Income Tax exemption on capital gains earned on the sale of residential real estate property by individuals
4/12/2022 According to the current taxation rules, those who earn income from capital gains from the sale of real estate are subject to income tax, with the application of progressive tax rates from 15% to 22.5%. However, there some cases of exemption from this tax, as provided in Normative Instruction n. 599/2005, which establish, in […]
Decree reduces Financial Transactions Tax (IOF) on exchange operations until 2029
3/30/2022 On March 16th, the decree No.10.997/2022 was published, reducing the Financial Transactions Tax (IOF) rate on exchange operations. This measure has been discussed since the beginning of this year and aims to make the flow of Brazilian capital abroad more flexible and specially to observe one of the requirements to Brazil join the Organization […]
Tribunal reduz tributação sobre imóveis em doações e heranças
Valor Econômico 18/3/2022 Contribuintes têm conseguido, no Tribunal de Justiça de São Paulo (TJSP), reduzir a tributação sobre imóveis em doações e heranças. Desembargadores estão determinando, como base de cálculo do ITCMD, o uso do valor venal do IPTU – geralmente menor em relação ao de mercado. O entendimento, de acordo com a Procuradoria Geral […]
Taxpayers from São Paulo have obtained favorable decision in the Judiciary regarding ITCMD in real estate transactions
2/25/2022 In the inheritance and donation of real estate in the State of São Paulo, many taxpayers have been surprised by the notary’s office responsible for registering the operation, which, in compliance with the guidelines of the State Tax Department, requires that ITCMD – and all the fees and notary’s charges – is paid according […]
New Federal Revenue guidance benefits marketplace and digital economy
1/31/2022 In the last quarter of 2021, the Federal Revenue enacted an Answers to Advance Tax Ruling Requests Nº 170/2021, which determines that marketplace platforms do not need to collect taxes on the amounts they receive and pass on to sellers. Marketplace it’s a term utilized to describe virtual platforms, like Mercado Livre and Amazon. […]
New Law changes São Paulo City tax system
12/23/2021 On 27 November, it was published the Law n. 17.719/2021 that changes the tax system of São Paulo city. In this way, we highlight some important points brought by the Law. The rate of the municipal services tax (ISS) was reduced to 2% to several sub-items of the service list in art. 1 of […]
