Federal Revenue overturned the new inspection rule for financial transactions after criticism
Now the Federal Revenue rules on financial supervision determined that an individual needed to have only 1 month with transactions above R$5,000 to enter the Tax Authority’s radar for the following months (understand below). The standards included means such as Pix and cards in payment institutions.
Here is a practical example: suppose that an informal flower seller generated more than R$5,000 in May – the month with the greatest demand for the product due to Mother’s Day. At that point, he would already be included in the magnifying glass and would continue to be observed until the end of the year, regardless of the amount transferred to his account until December.
If a trader moved more than R$5,000 in January, for example, the Normative Instruction that ended up being overturned allowed the Tax Authorities to monitor every month from the one in which the amount was exceeded – the entire year.
The normative instruction () responsible for establishing the rules said the following in an excerpt from article 15:
Art. 15. The entities referred to in art. 9 are obliged to provide information relating to the financial operations mentioned in art. 10, caput, items I, II and VIII to XI, when the global amount moved or the balance, in each month, by type of financial transaction, is greater than:
I – R$5,000.00 (five thousand reais), in the case of individuals; and
II – R$ 15,000.00 (fifteen thousand reais), in the case of legal entities.§ 1º The limits established in the caput must be applied in aggregate to all financial transactions of the same type maintained at the same financial institution or payment institution.
§ 2º If any of the established limits are exceeded no head institutions must provide information relating to all annual balances and other global amounts moved monthly, even if for these the monthly sum is lower than the aforementioned limits.
§ 3º The provision of the information referred to in this article will cover all months from the one in which the limit was reachedrelative to the reference period.
The ceiling is considered for transaction of the same medium (Pix, card, TED, etc.) and of the same financial institutionresponsible for reporting the figures to the Tax Authorities. For companies, the limit is R$15,000.
Lawyer Mariana Valença, from the firm Murayama, Affonso Ferreira e Mota, confirms that the text passes this determination. “From reading, you have exceeded the limit, they can inspect you monthly, even if in the next few months the sum will not exceed R$5,000”declared to the Poder360.
Former Federal Revenue Secretary Everardo Maciel assessed that the measure is not necessarily new, and is already valid for several traditional bank operations. It would change that this type of monitoring would apply to transactions like Pix, in addition to the inclusion of payment institutions.
“There is no wantonness whatsoever. This is a regular, trivial thing.”said Maciel.
In a simplified summary, a payment institution is a type of bank that does not make loans, such as Getnet and Cielo. The focus is on financial transactions.
TAX OVERDOWN INSPECTION
The Federal Revenue overturned normative instructions that increased supervision over transfers above R$5,000 from Pix to individuals. The initiative did not create an extra government fee for the operationas reported by publications on social media that cornered the government and forced a retreat.
The idea was to have greater monitoring. It would facilitate the identification of those who do not pay taxes and could bring more costs when declaring Income Tax, in addition to making it easier to fall into the “fine mesh”.
Informal workers were worried and feared the financial impact on their businesses. Merchants considered – or even started – charging extra fees for purchases. How the Poder360several professionals in the sector believe that this would be a way of passing on any possible increase in costs to the consumer and avoiding their own losses.
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PIX SUPERVISION
The change determined that the Federal Revenue Service would now receive data from credit card operators and payment institutions. It would affect large retailers, digital banks and electronic wallets, including transactions via Pix. The same was already done by traditional banks.
Only monthly movements above R$5,000 for individuals or R$15,000 for companies would be reported. According to the Tax Authority, the data was intended to identify irregularities and reinforce compliance with tax laws. The information will be sent every six months through the tool known as e-Financeira, within the Federal Revenue Service.
At the end of each month, “all amounts left from the account are added together, including withdrawals and, if the limit of R$5,000 for an individual, or R$15,000 for a legal entity is exceeded”.
In a note, the Federal Revenue stated that the expanded data collection:
- sought to improve the control and supervision of financial operations;
- ensured greater data collection;
- reinforced Brazil’s international commitments in the CRS (Common Declaration Standard);
- contributed to combating tax evasion; and
- promoted transparency in global financial operations.
