Starting in 2025, new regulations established by the Federal Revenue Service will impact how financial transfers made via Pix, among other transactions, will be monitored. From now on, transfers exceeding R$ 5,000 for individuals and R$ 15,000 for legal entities must be reported to the Revenue Service by credit card operators and payment institutions, such as payment apps and digital banks. The measure, which came into effect on January 1st, is part of the Federal Revenue’s effort to enhance control over financial transactions in the country.
The new rule was established by RFB Normative Instruction No. 2,219/24, announced in September of last year, and now the information must be submitted electronically via e-Financeira, the Federal Revenue’s electronic system that is part of the Public Digital Bookkeeping System (Sped), already used for collecting data on bank accounts, investments, and private pensions. With this change, credit card operators and payment institutions will also have to provide this information to the tax authorities, expanding the scope of oversight.
Informal workers – According to André Felix Ricotta de Oliveira, PhD in Tax Law and partner at Felix Ricotta Advocacia, with the implementation of these new rules, the Federal Revenue Service will begin receiving information about the amounts that informal workers, such as freelancers and independent contractors, receive throughout the month, whether via Pix, PayPal, or other platforms. This will allow the tax authorities to verify whether the received amounts were properly declared by taxpayers.
“For those who receive more than R$ 5,000 monthly, there is no longer an exemption. These individuals will have to declare their Income Tax, and the tax authorities will cross-check financial transaction data with tax returns,” explains Oliveira.
Earnings and donations – Given these new rules, it is essential for taxpayers to correctly declare all sources of income in their Income Tax returns. This includes not only earnings from work and capital but also any other received amounts, such as proceeds, earnings, and donations.
In the case of donations received from family members, the amount will be subject to the ITCMD (Tax on Transmission Cause Mortis and Donation) rules. Depending on the state, the taxpayer may be exempt from this tax. “It is important for taxpayers to correctly declare their income sources to avoid issues with the Federal Revenue,” adds Oliveira.
Digital currency oversight – Additionally, the Federal Revenue Service has also expanded the database of the Public Digital Bookkeeping System (Sped) to include information on digital currency transactions and post-paid accounts, further extending oversight over non-conventional financial transactions.
New regulation – Oliveira also emphasizes the importance of taxpayers staying updated on changes to declaration rules. “The Federal Revenue Service will begin monitoring a larger volume of financial transactions, which could lead to a significant increase in oversight. Therefore, it is essential for taxpayers to comply with the new legislation and transparently declare all their income sources,” concludes the tax expert.
