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Brazil new Tax law for 2024 for resident and Citizens

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sjpetzold

@abthree

I am unclear what you mean by the "policy of the RF to avoid double taxation". Do you mean taxation of income in both US and Brazil, as in US taxes Brazil income which has already been taxed in Brazil and vice versa?

abthree


    06/24/23 @abthreeI am unclear what you mean by the "policy of the RF to avoid double taxation". Do you mean taxation of income in both US and Brazil, as in US taxes Brazil income which has already been taxed in Brazil and vice versa?         -@sjpetzold


Yes. 🏻  In the absence of a tax treaty there's some double taxation, but it seems to be reduced.

NewBrazil

There a new tax law in Brazil just passed in 2024. They are going to tax all your investment all over the world. I put up a disscussion in this group explaining the new law. it anywhere from 8% to 15% on any profits you make if you are a resident or citizen. Example if you sell a property outside of Brazil they will tax you on the profit 15%. Here a web this explains it.

scottym

@abthree

Good evening abthree! I am a new resident in Brasil from Canada and am investing in crypto. I also am looking for a good accountant that deals with crypto law and tax implications. Would you mind sharing the name of your Brazilian accountant. I hope he speaks English. Thank you for all of your insight!

alan279

There a new tax law in Brazil just passed in 2024. They are going to tax all your investment all over the world. I put up a disscussion in this group explaining the new law. it anywhere from 8% to 15% on any profits you make if you are a resident or citizen. Example if you sell a property outside of Brazil they will tax you on the profit 15%. Here a web this explains it. - @NewBrazil

Link is to a law firm.

abthree

12/13/24  Link is to a law firm. - @alan279

It's an informational article, not a business solicitation.

bepmoht

@NewBrazil


My dear departed mother use to say, “THERE IS NO UTOPIA 🤣”.

Robert Laney

And how exactly is Brazil going to find out what you are doing in your home country if the only income that you show is coming from the US Social Security administration?

NewBrazil

@Robert Laney Do you have a CPF?? This is they way Brazil follow what you spend. If you have a bank account in Brazil they will see your SSI being deposited. So yes they may not know how much savings you have in the US. But they will know how much you are spending and deposit. You will need to pay taxes.

abthree

12/13/24 @abthree
Good evening abthree! I am a new resident in Brasil from Canada and am investing in crypto. I also am looking for a good accountant that deals with crypto law and tax implications. Would you mind sharing the name of your Brazilian accountant. I hope he speaks English. Thank you for all of your insight! - @scottym


Welcome.  I'm pretty sure that she doesn't know anything about crypto and I doubt very much that she speaks English, so there probably would not be a good fit.

kolyaS122HSU

Dupe post.

kolyaS122HSU

You do not initially need an accountant in Brasil. Anyone can operate a calculator, even you.


Who you should be hiring is a tax lawyer. You are moving your entire life, including the financial one, to the other side of the world into a country that has a myriad of complex and ever changing tax laws, all the while still having to negotiate those of your previous residence. Do you have multiple degrees in Portuguese universities on this subject ? I don't.


Someone with a nominal income and assets, or even moreso, significant ones, should be engaging a professional multilingual international specialist with the track record and credentials, as well as a blue chip client base, versus "Acerola the Acontador" located in the subloja above a churrascaria.


For someone in the nominal category perhaps a junior member of a firm will do. Normally these services are billed in blocks of prepaid hours. 10 hours @ R$1.000 is a good starting point for many, whereas others will need the services of someone requiring 50 hours @ R$2.000 upfront, or more.


FWIW you make your own bed.

alan279

@kolyaS122HSU

How do you find a competent attorney/accountant (or team?) for your particular country pairs?


Asking for a friend.

kolyaS122HSU

Dahblyou Dahblyou Dahblyou.......you know the thing.......heh.


You have a private message.

alan279

@kolyaS122HSU

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