Starting in 2025, a new regulation established by the Federal Revenue Service will impact how financial transfers made via Pix, among other transactions, will be monitored. From now on, transfers over 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 Service’s efforts to enhance control over financial transactions in the country.
The new rule was set by Normative Instruction RFB No. 2,219/24, announced in September of last year, and now the information must be sent mandatory via e-Financeira, the electronic system of the Federal Revenue Service that is part of the Public System of Digital Bookkeeping (Sped), already used for collecting data from bank accounts, investments, and private pension funds. With the change, credit card operators and payment institutions will also have to provide this information to the Tax Authority, expanding the scope of oversight.
Informal workers – According to André Felix Ricotta de Oliveira, PhD in Tax Law and partner at Felix Ricotta Advocacy, with the implementation of these new rules, the Federal Revenue Service will start receiving information about the amounts that informal workers, such as self-employed individuals and freelancers, receive throughout the month, whether through Pix, PayPal, or other platforms. This will allow the Tax Authority to verify if the received amounts were properly declared by the taxpayers.
“For those earning more than R$ 5,000 per month, from now on, there is no more exemption. These individuals will have to declare Income Tax, and the Revenue Department will cross-reference financial transaction information with declarations,” explains Oliveira.
Earnings and donations – Given these new rules, it is essential that the taxpayer correctly declare all sources of income to the Income Tax. This includes not only earnings from work and capital but also any other amounts received, such as benefits, income, and donations.
In the case of donations received from family members, the amount will be subject to the rules of ITCMD (Tax on Inheritance and Donations Transfer). Depending on the state, the taxpayer may be exempt from this taxation. “It is important that the taxpayer correctly declare their sources of income, avoiding problems with the Federal Revenue,” adds Oliveira.
Scrutiny of digital currencies – In addition, the Federal Revenue also expanded the database of the Public Digital Bookkeeping System (Sped) to include information on movements in digital currencies and post-paid accounts, further expanding surveillance on financial transactions carried out in unconventional ways.
New regulations – Oliveira also highlights the importance of taxpayers being aware of changes in declaration rules. “The Federal Revenue will start monitoring a larger volume of financial transactions, and this can lead to a significant increase in scrutiny. Therefore, it is essential that the taxpayer complies with the new legislation and declare all sources of income transparently,” concludes the tax expert.
