A new regulation has been in effect since January 1st. Internal Revenue Service What determines a greater [thing]? monitoring of bank transactionsThe biggest change is the monitoring of data on transactions that reach cumulative values equal to or exceeding 5 million reais for individuals and 15 million for legal entities.
A Tax lawyer Mayra SaittaSaitta Advocacia stresses that the rule doesn't apply to just a single transaction reaching this value. "The regulation refers to the accumulated amount throughout the month, whether by Pix, credit card, bank transfer, or other payment methods."
According to the expert, this requirement aims to increase transparency and government control over financial transactions, and is mandatory.
"Failure to provide an accounting can result in fines and tax problems with the Revenue Department. Therefore, this is the time for taxpayers or companies to review how they are handling payments or receipts, ensuring everything is compliant with the new rules", says Saitta.
