Revenue releases IRPF 2013 generator program

The Federal Revenue of Brazil released this Monday, (25), the program that generated the Individual Income Tax Declaration 2013.

Taxpayers who submit the declaration at the beginning of the term, without errors, and are entitled to a refund will have the chance to receive the money in the first batches. The same occurs with people over the age of 60, who will have priority in receiving the refund, in compliance with the Elderly Statute. The deadline for filing the declarations starts on March 1st and ends on April 30th. The declaration can be made online or on a floppy disk to be delivered to Caixa Econômica Federal or Banco do Brasil branches.

Taxpayers who received taxable income whose sum was higher than R $ 24,556.65 in 2012 are required to declare in 2012. The amount was adjusted by 4.5% in relation to the previous year. The obligation to declare also applies to those who received exempt, non-taxable or exclusively taxed income, the sum of which was more than R $ 40 thousand.

The presentation of the declaration is also mandatory for those who obtained, in any month, capital gain on the sale of assets or rights subject to the tax, carried out transactions on stock exchanges, commodities, futures and the like or obtained revenue gross income with rural activity above R $ 122,783.25. Whoever had, until December 31, 2012, possession of goods or property, including bare land, with a value greater than R $ 300 thousand, is also obliged to declare.

The limit amount for the deduction with instruction will be R $ 3,091.35. The taxpayer may deduct R $ 1,974.72 per dependent. In the case of deductions allowed with the social security contribution of domestic employees, the amount of the allowance can reach R $ 985.96. There is no limit on spending on medical expenses.

The IRS expects to receive 26 million statements.