On January 1, 2025, Federal Revenue Normative Instruction 2219/2024 came into effect, requiring financial institutions and credit card operators to report their clients’ transactions semiannually when the movement exceeds R$5,000 for individuals (PF) or R$15,000 for legal entities (PJ).
These new rules apply to both credit card data and transactions made via Pix.
The Federal Revenue states that the new measures aim to reinforce Brazil’s international commitments and combat tax evasion, promoting transparency in global financial operations.
Edna Dias, a tax law specialist lawyer, comments on this new rule: ‘It is important to note that if any of the limits established in the norm are exceeded, institutions must provide information regarding all annual balances and other global amounts moved monthly, even if the monthly sum is below the mentioned limits,’ she explains.
A case that deserves attention concerns liberal professionals. Lawyers, doctors, psychologists, physiotherapists, among others, need to be aware of this new rule. Edna also explains this point: ‘A psychologist, for example, who conducts private consultations earning more than R$5,000 per month, received from clients via PIX, must issue receipts and report these amounts in the Income Tax return, as this value will be reported by the financial institution to the Federal Revenue. If the values do not match, the agency may notice the discrepancy and penalize them,’ says Edna.
Freelancers, self-employed workers, and entrepreneurs also need to be aware of this new rule, as they will need to report their earnings to the Revenue.
It is important to clarify that the change in the rule does not imply any type of tax increase or additional tax, but it means that the Revenue will be more attentive to this type of transaction.
‘Failure to provide information may lead the taxpayer to fall under fine scrutiny, which implies paying fines and even more serious crimes, such as tax evasion, for example,’ warns Edna.
It is worth remembering that those who received taxable income above R$2,259.21 per month in 2024 must declare these amounts in this year’s Income Tax. Earnings received as an individual can be entered in the ‘income from other sources’ field.
For liberal professionals, one option is to pay the ‘carnê-leão’: ‘Workers who receive income above R$2,112.00 per month from other individuals may opt for the carnê-leão and pay taxes related to their earnings every month,’ advises the specialist.
