Moon Living Abroad in Brazil by Michael Sommers

Author:Michael Sommers
Language: eng
Format: epub
Publisher: Avalon Travel
Published: 2013-08-29T04:00:00+00:00

Unsurprisingly, all this convenience comes with a price. Most banks charge a monthly fee for basic services although depending on the package of services you choose and your minimum account balance, you can often get some of these waived.

Taxes

All foreign residents in Brazil are subject to personal income tax known as imposto de renda das pessoas físicas (IRPF). This income tax is collected by the federal government’s Receita Federal do Brazil, the Brazilian equivalent of the IRS. For tax purposes, you’re considered a resident if you hold a permanent visa or a temporary work visa, or if you spent more than 183 days in the country within a 12-month period. In principle, all income you earn in Brazil is subject to taxation and every April you’ll have to file taxes with the Receita Federal using your CPF. This is fairly easy to do online (easier than filing taxes in the United States) by accessing the Receita Federal’s website (www.receita.fazenda.gov.br). However, as an expat, things will probably be more complicated, and it’s recommended you use an accountant.

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