Last-Minute Tax Tips for Brazilians Using PIX

Brazilians Rush to File Taxes as Deadline Approaches Brazil is in the midst of its annual income tax season, and with the deadline fast approaching, many are scrambling to complete their declarations. This year, the use of PIX, Brazil's instant payment system, has added a layer of complexity for those who conduct online sales. To help clarify the process, g1 news recently interviewed Antonio Gil, a tax partner at EY, who offered practical advice on declaring PIX payments. "PIX is simply a payment method," Gil explained in a recent g1 video. "What matters is the nature of the transaction. If you're self-employed and received payment via PIX for services rendered, that's income from work. If you sold a used item, that's the sale of an asset." Gil emphasized the importance of understanding the difference between income from work and capital gains. He clarified that profits from selling used goods over R$35,000 are subject to capital gains tax, a 15% levy on profits. He recommended using the government's online calculator to determine the correct amount due. The g1 video has already garnered significant views, highlighting the public's need for clear guidance on this complex issue. With the deadline looming, the video serves as a valuable resource for taxpayers across Brazil.