Normative Instruction 1,690/2017 has been released in the Official Gazette on 22 February 2017 and also entered into force at same date. The Normative Instruction 1,690/2017 introduces the rules for filing of individual income tax returns for income derived by resident individuals in the tax year 2016.
According to the Normative Instruction main rules are given below:
Individual income tax returns filing relating to income derived in 2016 are intended for persons who received taxable income above BRL 28,559.70; received exempt or non-taxable income and income taxed entirely at source above BRL 40,000; goods whose value exceeded BRL 300,000 in 2016.
Tax declarations must be submitted between 2 March 2017 and 28 April 2017, using computers via the tax program for 2017 (Programa Gerador da Declaração) or via the online service on the website of the tax authorities.
