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Effective URL: https://vialtopartners.com/regional-alerts/fcvf
Submission: On December 19 via manual from IN — Scanned from DE
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Contact Us -------------------------------------------------------------------------------- Client Login -------------------------------------------------------------------------------- * Solutions * Solutions Overview * Tax * Immigration * Business Travel * Remote Work * Compensation and Rewards * Managed Services * Social Security * Technology * News and Insights * Insights * Press Room * Regional Alerts * Podcasts * Careers * Work at Vialto Partners * Early Careers * About Us * Our Company * Business Alliances * Diversity, Equity, and Inclusion (DEI) * Sustainability * FAQ’s * Contact Us * Home * Regional Alerts * Brazil | Employment Tax | Taxation on foreign investment and Brazilian funds BRAZIL | EMPLOYMENT TAX | TAXATION ON FOREIGN INVESTMENT AND BRAZILIAN FUNDS -------------------------------------------------------------------------------- December 6, 2023 December 1st, 2023 BRAZIL | TAXATION ON FOREIGN INVESTMENT AND BRAZILIAN FUNDS Summary The Brazilian Senate approved on Wednesday – November 29th,2023, the legislative bill number. 4,173/2023. The legislative bill has normatives about the taxation on income earned abroad by resident individuals in the country on their foreign financial investments, controlled entities and trusts held abroad, and about taxation of Brazilian investment funds. Now, the legislative bill goes to the President of the Republic for approval and, once converted into law in 2023, it will take effect from January 1st, 2024. The Details Taxation of foreign income received by resident individuals in Brazil Foreign financial investments – In general, as of January 1st, 2024, the individual resident is subject to annual taxation, in the Annual Income Tax Return (DAA), on earnings from capital invested abroad, in the financial investments form and profits and dividends from controlled entities. – From the DAA relating to the calendar year 2024, to be submitted in 2025, all income related to the period from January 1st, 2024 to December 31st, 2024 will be subject to the income tax at a rate of 15%, without any deduction from the calculation basis. If there is income tax paid abroad and/ or losses on investments, these may be offset, as long as the requirements set out in law are met. – Capital gains on the sales, write-off or liquidation of assets and rights located abroad, not classified as financial investments, remain subject to specific taxation rules prior to the aforementioned law. Foreign controlled entities – The “anti-deferral” tax rule was introduced, as there will be automatic taxation of profits calculated on December 31 by foreign controlled entities, as the requirements set out in the new rule. – From January 1st, 2024, the profits of controlled entities, calculated on December 31 of each year, even if not distributed, will be subject to taxation at a rate of 15%. – The accumulated profits until December 31, 2023 will be taxed only at the time of its effective availability. – The individual also may report, irrevocably and irreversibly, the assets and rights held by the entity controlled abroad as if they were directly yours (concept of “transparency for tax purposes”). As a consequence, their taxation will only be due when the respective earnings and/or gains were effectively received. Trust abroad – Income and capital gains relating to the assets and rights subject to the trust will be subject to individual income tax in accordance with the concept of “transparency for tax purposes”. – The change of ownership of the trust’s assets will be considered as a free transfer from the settlor to the beneficiary, consisting of a donation, if occurring during the settlor’s life, or a causa mortis transfer, if resulting from his death. Update of the value of the assets and rights abroad and revocations – The individual can update the value of assets and rights abroad and reported in the DAA, for the calendar year 2022, to the market value on December 31st, 2023, taxing the added difference at the definitive rate of 8%, which income tax must be paid by May 31st, 2024. – It revoked the exemption from income tax due on capital gains obtained on the sale or redemption of assets located abroad, or representing legal rights abroad, as well as financial investments, whose assets have been acquired, in any title, as a Vialto Partners non-tax resident. The calculation of capital gains on assets in foreign currency was also revoked, being the exchange rate variation to BRL computed in the calculation basis. Taxation on investments funds in Brazil – Funds constituted in the form of a closed condominium will be subject to semestral taxation, in May and November of each year, regardless of the redemption of quotas, observed the exceptions set forth in the rule. How we can help The Vialto Partners team is ready to render individual and detailed assistance regarding the potential impacts of the approval of the legislative bill 4,173/2023, either providing consultations and in fulfilling new principal and /or accessory obligations arising from the new legal text. Contact us For a deeper discussion on the above, please reach out to your Vialto Partners point of contact: Flavia Fernandes Country Leader flavia.fernandes@vialto.com Marisa Paleari Partner marisa.paleari@vialto.com Reinaldo Medina Director reinaldo.medina@vialto.com Further information on Vialto Partners can be found here: www.vialtopartners.com 1° de dezembro de 2023 BRASIL | TRIBUTAÇÃO DE INVESTIMENTOS NO EXTERIOR E FUNDOS NO BRASIL Resumo O Senado Federal aprovou na quarta-feira (29/11/2023), o Projeto de Lei nº 4.173/2023, que trata, dentre outras medidas, da tributação da renda auferida por pessoas físicas residentes no país em aplicações financeiras, entidades controladas e trusts no exterior, e da tributação de aplicações em fundos de investimento no Brasil. Agora, o Projeto de Lei segue para sanção do Presidente da República e, uma vez convertido em lei ainda em 2023, produzirá efeitos a partir de 1º de janeiro de 2024. Detalhes Da Tributação de rendimentos no exterior por pessoas físicas residentes no Brasil Aplicações financeiras no exterior – Em termos gerais, a partir de 01/01/2024, a pessoa física residente está sujeita à tributação anual, na Declaração de Ajuste Anual (DAA), dos rendimentos do capital aplicado no exterior, nas modalidades de aplicações financeiras e de lucros e dividendos de entidades controladas. – A partir da DAA relativa ao ano-calendário 2024, a ser entregue de 2025, a totalidade dos rendimentos apurados de 01/01/2024 a 31/12/2024 passarão a ser somados e submetidos à incidência do tributo (IRPF), à alíquota de 15%, sem qualquer dedução da base de cálculo. Havendo imposto de renda pago no exterior e/ou perdas/prejuízos nos investimentos, esses poderão ser compensados, desde que cumpridos os requisitos previstos em lei. – Os ganhos de capital na alienação, baixa ou liquidação de bens e direitos localizados no exterior, não classificados como aplicações financeiras, permanecem submetidos às regras específicas de tributação anteriores ao mencionado projeto. Entidades controladas no exterior – Foi introduzida a norma “anti-diferimento” da tributação, pois haverá tributação automática dos lucros apurados em 31/12 pelas entidades controladas no exterior, nos requisitos da norma. – A partir de 01/01/2024, os lucros das entidades controladas, apurados em 31/12 de cada ano, mesmo que não distribuídos, estarão submetidos à tributação à alíquota de 15%. – Os lucros acumulados até 31/12/2023 serão tributados somente no momento da efetiva disponibilização. – A pessoa física pode, ainda, declarar, de forma irrevogável e irretratável, os bens e direitos detidos pela entidade controlada no exterior como se fossem diretamente seus (conceito de “transparência para fins tributários”). Por consequência, a tributação desses somente ocorrerá quando os respectivos rendimentos e/ou ganhos forem efetivamente percebidos. Trust no exterior – Observados os conceitos e regras específicos, os rendimentos e/ou ganhos de capital relativos aos bens e direitos mantidos no trust serão submetidos à incidência tributária conforme conceito de “transparência para fins tributários”. – A mudança de titularidade sobre o patrimônio do Trust será considerada como transmissão a título gratuito pelo instituidor para o beneficiário, consistindo em doação, se ocorrida durante a vida do instituidor, ou transmissão causa mortis, se decorrente do seu falecimento. Atualização do valor dos bens e direitos no exterior e revogações – A pessoa física pode optar pela atualização do valor dos bens e direitos no exterior e informados na sua DAA, relativa ao ano-calendário de 2022, para o valor de mercado em 31 de dezembro de 2023, tributando-se a diferença acrescida à alíquota definitiva de 8%, cujo valor do IRPF deve ser recolhido até 31/05/2024. – Fica revogada a isenção do IRPF sobre o ganho de capital na alienação e/ou resgate de bens localizados no exterior, ou representativos de direito no exterior, bem como aplicações financeiras, cujos ativos tenham sido adquiridos, a qualquer título, quando não residente fiscal. Igualmente foi revogada a apuração do ganho de capital de ativos em moeda estrangeira, sendo a variação cambial para Reais computada na base de cálculo. Da Tributação dos fundos de investimentos no Brasil – Fundos constituídos sob a forma de condomínio fechado ficam sujeitos à tributação semestral, em maio e novembro de cada ano, independentemente do resgate das cotas, observadas as exceções determinadas no texto. Como podemos ajudar A equipe Vialto Partners Brazil está pronta para uma assessoria individual e pormenorizada em relação aos potenciais impactos da aprovação do Projeto de Lei 4.173/2023, tanto na realização de consultas, quanto no cumprimento de novas obrigações principais e/ou acessórias decorrentes do novo texto legal. Contatos Para discussões aprofundadas sobre o tema acima, por favor contatar seus consultores da Vialto Partners: Flavia Fernandes Country Leader flavia.fernandes@vialto.com Marisa Paleari Sócia marisa.paleari@vialto.com Reinaldo Medina Diretor reinaldo.medina@vialto.com Mais informações sobre a Vialto Partners: www.vialtopartners.com SolutionsSolutions overviewTaxImmigrationBusiness travelRemote workCompensation and rewardsManaged servicesSocial securityTechnology News and insightsInsightsPress roomRegional AlertsPodcastsCareersWork at Vialto PartnersEarly careers About usOur companyBusiness alliancesDiversity, equity, and inclusion (DEI)SustainabilityFAQ’sLabor condition applicationsClient loginmyMobilitymyMobility HQ SRA transparency rules—immigration servicesSRA transparency rules—immigration professionalsSRA—UK complaints handling procedureNorway Transparency Act Disclosure © Copyright 2023 Vialto Partners. All Rights Reserved. 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