On September 16th, 2024 the Law n. 14,973/2024 ruling, among other aspects, the possibility of updating the cost of acquisition of real estate properties declared by the individual tax residents in Brazil, as well as of the Special
Program for Exchange and Tax Regularization (“RERCT-Geral”). The Normatives Instructions n. 2,221/2024 and 2,222/2024 published by the Brazilian Federal Revenue Service regulating, respectively, the new rules established by the Law.
Update on real estate’s cost of acquisition
According to the Law n. 14,973/2024, individuals who are tax residents in Brazil may choose to update the cost of acquisition of real estate properties, located in Brazil or abroad, and as long as they have been informed in the 2023 Annual Income Tax Return (“DAA”), to the respective market value, by paying income tax at the definitive and flat rate of 4% on the worth increase. The Law also provides for this option for legal entities, observing the respective guidance.
In addition to the specific aspects on how the taxpayer must proceed to opt for the updating the real estate’s value, the new law set forth that if the concerned real estate is sold at any time within 15 years (180 months) counted from the date of the updating option, a new tax assessment must be carried out and the gain should be taxed at progressive rates considering a reduced calculation basis.
On September 24th, 2024, the Brazilian Federal Revenue Service issued the Normative Instruction n. 2,222/2024, which provides details on the forms to be filed by the taxpayer who opts for the mentioned updating program and
the deadline for paying the income tax by December 16th, 2024.
Special Regime for General Regularization of Exchange and Tax Assets (“RERCT-Geral”)
The Law n. 14,973/2024 also establishes the Special Program for Exchange and Tax Regularization (“RERCT-Geral”), in which individuals who are tax residents in Brazil as of December 31st, 2023 may voluntarily
disclosure resources, assets and rights of lawful origin, held in Brazil or abroad, that were not previously reported or reported with omission or inaccuracy in relation to essential data, or which have already been repatriated.
On September 19th, 2024 the Brazilian Federal Revenue Service published Normative Instruction n. 2,221/2024 ruling the option for the RERCT-Geral through a form to be filed by December 15th, 2024, in which detailed
description of the resources, assets and rights of any nature held by the taxpayer as of December 31st, 2023, should be reported aiming to regularize it.
The Normative Instruction also sets forth the amounts reported in RERCT-Geral as asset increase realized on December 31st, 2023 and the corresponding amount is the base of the tax equivalent to a flat rate of 15% as capital gain tax, in addition to a penalty of 100% of the amount of tax due, whose payment is due by December 15th, 2024.
Additionally, when opting for the RERCT-Geral, the taxpayer shall file, by December 31st, 2024, the 2023 Brazilian Annual Income Tax Return (“DAA”), or its amendment, if it has already been submitted, listing the details of the
regularized assets.
The Vialto Partners Brazil team is ready to provide detailed advice regarding the impacts arising from the approved legislation to the individual taxpayers in carrying out consultations, in determining tax calculations or/and preparing / filing the required forms aiming to opt for one or both programs.
Contact us
For a deeper discussion on the above, please reach out to your Vialto Partners point of contact, or alternatively:
Flavia Fernandes
Partner
Marisa Paleari
Partner
Reinaldo Medina
Director
Further information on Vialto Partners can be found here: www.vialtopartners.com
Vialto Partners (“Vialto”) refers to wholly owned subsidiaries of CD&R Galaxy UK OpCo Limited as well as the other members of the Vialto Partners global network. The information contained in this document is for general guidance on matters of interest only. Vialto is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will Vialto, its related entities, or the agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.
No dia 16/09/2024, foi publicada a Lei n. 14.973/2024 que trata, dentre outras medidas, da possibilidade de atualização de bens imóveis declarados pelas pessoas físicas residentes no Brasil, bem como do Regime Especial
de Regularização Geral de Bens Cambial e Tributária (RERCT-Geral). As Instruções Normativas n°. 2.221/2024 e 2.222/2024 emitidas pela Receita Federal do Brasil regulamentam as novas regras introduzidas pela Lei.
Atualização de bens imóveis
De acordo com a Lei n. 14.973/2024, as pessoas físicas residentes fiscais no Brasil poderão optar pela atualização do custo de aquisição dos imóveis, no Brasil ou no exterior e desde que esses tenham sido informados na Declaração de Ajuste Anual (DAA), para o respectivo valor de mercado, mediante recolhimento do imposto sobre a renda à alíquota definitiva de 4% incidente sobre a acréscimo apurado. A legislação também
prevê a referida opção para as pessoas jurídicas, observando-se algumas regras específicas.
Além de aspectos específicos sobre como o contribuinte deverá proceder para optar pela atualização do bem imóvel, a nova lei determina que, caso o imóvel atualizado seja alienado antes do prazo de 15 anos (180 meses)
contados da data da opção, nova apuração tributária deverá ser feita sobre o ganho apurado, considerando as alíquotas progressivas incidentes sobre base de cálculo reduzida.
Em 24/09/2024, a Receita Federal do Brasil emitiu a Instrução Normativa n. 2.222/2024, a qual traz detalhes sobre os formulários a serem apresentados pelo contribuinte optante pela atualização e o prazo de recolhimento do imposto de renda até 16/12/2024.
Do Regime Especial de Regularização Geral de Bens Cambial e Tributária
A Lei n. 14.973/2024 também institui o Regime Especial de Regularização Geral de Bens Cambial e Tributária (RERCT-Geral), através do qual as pessoas físicas residentes fiscais no Brasil em 31/12/2023 poderão declarar
voluntariamente recursos, bens e direitos de origem lícita, mantidos no Brasil ou no exterior, os quais não foram declarados ou declarados com omissão ou incorreção em relação a dados essenciais, ou, ainda, que já foram repatriados.
Em 19/09/2024, a Receita Federal do Brasil publicou a Instrução Normativa n. 2.221/2024, determinando a adesão ao RERCT-Geral, mediante apresentação de declaração específica até 15/12/2024, contendo a descrição
pormenorizada dos recursos, bens e direitos de qualquer natureza de que seja titular em 31/12/2023 a serem regularizados.
Prevê ainda a Instrução Normativa que o montante dos ativos objeto de regularização é considerado acréscimo patrimonial adquirido em 31/12/2023 e sobre eles sujeitará a pessoa física, ao pagamento do imposto sobre a
renda a título de ganho de capital à alíquota vigente de 15%, além de multa de 100% sobre o imposto, cujo recolhimento total também deverá ocorrer até 15/12/2024.
Ainda, quando da adesão ao RERCT-Geral, o contribuinte deverá apresentar a Declaração de Ajuste Anual (DAA) do exercício de 2024, ano-calendário 2023, ou sua retificadora, para o caso de já tê-la apresentado, até 31/12/2024, relacionando os dados dos ativos regularizados.
A equipe Vialto Partners Brazil está pronta para uma assessoria individual e pormenorizada em relação aos impactos às pessoas físicas decorrentes da legislação aprovada, tanto na realização de consultas, quanto na
apuração de cálculos tributários e entrega de formulários junto às autoridades fiscais visando a formalização das opções.
Contatos
Para discussões aprofundadas sobre o tema acima, por favor contatar seus consultores da Vialto Partners:
Flavia Fernandes
Sócia
Marisa Paleari
Sócia
Reinaldo Medina
Diretor
Mais informações sobre a Vialto Partners: www.vialtopartners.com
Vialto Partners (“Vialto”) refers to wholly owned subsidiaries of CD&R Galaxy UK OpCo Limited as well as the other members of the Vialto Partners global
network. The information contained in this document is for general guidance on matters of interest only. Vialto is not responsible for any errors or omissions,
or for the results obtained from the use of this information. All information is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of
the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of
performance, merchantability and fitness for a particular purpose. In no event will Vialto, its related entities, or the agents or employees thereof be liable to
you or anyone else for any decision made or action taken in reliance on the information in this document or for any consequential, special or similar damages, even if advised of the possibility of such damages. ©2024 Vialto Partners. All Rights Reserved.