* Filing time

File a federal tax return in April of the following year. Fill in the federal tax return for the previous year's monthly income and taxes. Now, the declaration of individual income tax is likely to be changed to monthly declaration and payment, no longer settled at the end of the year.



* Tax Return Channels



In Brazil, the tax system is controlled by computer system, taxpayers voluntarily declare tax and Banks collect tax on their behalf.



* Tax Return Procedures



1. Fill in return form



(1) A corporate taxpayer must file a federal tax return before the last working day in April of the following year and accurately report the tax for the previous calendar year. A small company that fails to pay the required amount of tax is required to file a tax return as is a tax-exempt company.



(2) An individual is also required to file a federal tax return in April of the following year, truthfully reporting the previous year's monthly income and taxes to settle the tax. Now, the declaration of individual income tax is likely to be changed to monthly declaration and payment, no longer settled at the end of the year.



2. Pay taxes



(1) Corporate income tax is based on accrual basis and calculated according to monthly financial statements. In case of conflict with the commercial law and tax law, the commercial law and tax law shall prevail. At the same time, the tax payable should be adjusted for inflation.



The tax of the company every month must be paid now in the last job of next month commonly, the loss of that month can be carried forward indefinitely, carry forward loss also should undertake inflation adjustment, but the loss of that month must not be carried forward.



Taxes owed by the company must be paid in a lump sum prior to the date of filing of the annual return. When the return indicates that the company has overpaid taxes, the year-end settlement can be refunded, or the excess taxes can be retained to offset part of the company's taxes for the next year, and the credit shall be adjusted for inflation.



Companies pay taxes can in this year's pay in accordance with the accounting statements, registered by the end of that year the tax payable, retreat more fill less, in the April report work be finished before the last work of the previous year, also can choose to pay for tax, tax on the basis of the company in the previous year to the valuation method to pay the taxes, taxes this year in April the following year comprehensive comprehensive declare each accounting monthly report this year, compared with estimated tax law for the payment of taxes, retreat more fill less. The option of the assessable payment method is a decision made by the company at the time of payment of the tax in January, once selected for one year.



(2) The payment of individual income tax in Brazil is generally self-declared and paid to the government tax authorities on a monthly basis. Resident individuals pay tax on their income from inside and outside Brazil, while non-resident individuals pay tax on their income from inside Brazil. The wages obtained by the employee from the employer shall be withheld by the employer from the source tax. The recipients of income without withholding from the source must pay the tax to the tax authorities before the last working day of the next month.



The person who receives income from multiple sources must calculate the total amount of tax payable on a monthly basis, and shall not omit any taxable income, and then pay the amount in the same month, or pay it once a half a year.