Changes in Pix monitoring: how do they affect Brazilians?

The IRS recently announced that it will expand the monitoring of transactions via Pix and card, as it comes into force this year. However, the new rules for the most popular payment tool in Brazil have generated confusion and raised doubts in most of the population, especially due to distorted or false news.

Created in 2020, Pix has become the main means of payment for Brazilians.A Central Bank survey released at the end of 2024, entitled io Brasileiro and its Relationship with Money’, shows that the modality has already surpassed the transactions in cash. Therefore, it is important to emphasize that, as Pix is widely used, any measure that changes it must be defined with great discretion and be disclosed very carefully as well.

Second the financial educator Joao Victorino, the implemented change does not create any tax collection on Pix. What changes is that transfers above R$ 5 thousand for individuals and R$ 15 thousand for legal entities are mandatory to be automatically reported by banks and financial institutions to the IRS, which then has access to more data to help avoid tax evasion.

It is also worth mentioning that traditional financial institutions such as public, private, financial banks and credit unions UD were already required to send the data of transactions to the IRS. In practice, the list of institutions that need to send information about financial operations, including credit card operators, digital banks and payment platforms has now been extended.

John assures that there is no reason to panic. “I realize that government and authorities are not disclosing the information clearly to the population, which represents a major problem to be solved. For example, many believe that receiving a Pix above 5 thousand reais implies immediate taxation on income tax, which is a lie and only serves to scare people”, he explains.

At the same time, the expert confirms that the IRS will in fact include all the data available in the pre-filled income tax returns, so that it is possible to avoid any divergences.The objective is to curb tax evasion, ensuring that financial institutions, as well as individuals and companies, account correctly.