Chamber extends 2021 Income Tax delivery deadline to July 31 – Business

Chamber extends 2021 Income Tax delivery deadline to July 31 – Business
Chamber extends 2021 Income Tax delivery deadline to July 31 – Business
A Chamber of Deputies approved the extension, until July 31, the deadline for delivery of the declaration income tax for individuals in 2021, referring to the calendar year 2020. The IR refund schedule was maintained, with the first batch scheduled for May 31.

The bill, authored by Deputy Rubens Bueno (Citizenship-PR), was approved in a symbolic vote on Tuesday (30) and is going to vote in the Senate.

In principle, the deadline for the delivery of personal income tax ends at April 30th. In addition to the extension and maintaining the refund schedule, the text establishes that the payment of the single installment or the overdue installments of Income Tax may not be subject to an increase in interest or penalty until the new term.

The text’s rapporteur, Deputy Marcos Aurélio Sampaio (MDB-PI), stated that the purpose of the extension was to allow individual taxpayers to program themselves to fulfill their tax obligations, which would increase the “trust and legitimacy of the services provided by the Treasury federal.”

The author of the project asked for the approval of the text and stated that it would not harm the Revenue in any way. “Especially because those who have already declared will receive it starting in May. The return remains,” said Rubens Bueno. “But for those who are going to declare and who still need some document or need to do some circulation in search of this paperwork, this is extended for 90 days.”

A more for the taxpayer that does not make the declaration or deliver it after the deadline will be, at least, R$ 165,74. The limit value for the collection of the penalty is 20% of the tax due.

This year, taxpayers who received installments of emergency aid in 2020 and had taxable income greater than R $ 22,847.76 in the year will be required to return the benefit amount.

The rule is provided for in the law that instituted the aid, approved by Congress in March last year. If dependents of these taxpayers have received assistance, these amounts will also need to be returned.

The income report with the emergency aid values ​​is available on the website of the Ministry of Citizenship. Refunds will be made in five batches between May 31 and September 30.

All those who, in 2020, had taxable income in excess of R $ 28,559.70 or exempt income not taxed or taxed at source above R $ 40 thousand are required to declare Income Tax.

The expectation of the Revenue is that 32 million declarations are delivered this year, a number similar to last year. According to the tax authorities, of this total, 60% should be entitled to a refund. The estimate is that 21% will have no tax to pay or refund, while 19% will have to pay tax.

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