Does this change affect all MEIs? Understand!

Find out how the new progressive Income Tax 2024 table impacts MEIs and find out who needs to declare this year. Stay up to date with the deadlines and methods for submitting the declaration!

The 2024 Income Tax (IR) brings with it an update to the progressive table, announced by the federal government at the beginning of February.

This update aims to benefit those who receive up to two minimum wages, increasing the exemption limit and directly impacting the tax calculation basis.

In the following lines, we have gathered crucial information regarding this important obligation for thousands of Brazilians. So, read on and stay informed.

Understand the changes in the 2024 Income Tax progressive table and see if you fit the new rules. (Credit: @jeanedeoliveirafotografia / pronatec.pro.br).

CHANGED: discover the NEW 2024 Income Tax table

Namely, the change in the monthly progressive income tax table implies an increase in the application limit of the zero rate by 6.97%, resulting in a current value of R$2,259.20, compared to the previous R$2,112.

In short, this measure aims to alleviate the tax burden for lower-income taxpayers.

For those with monthly income of up to R$2,824, the exemption will be applied after the simplified discount of R$564.80, resulting in a calculation base of R$2,259.20, corresponding to the maximum limit of the zero rate band in the new table . See the table:

Calculation basis Aliquot Portion to be deducted
Up to R$ 2,259.00
From R$ 2,259.00 to R$ 2,826.65 7,5% R$ 169,44
From R$2,826.66 to R$3,751.05 15% R$ 381,44
From R$3,751.06 to R$4,664.68 22,5% R$ 662,77
Above R$4,664.68 27,5% R$ 896,00

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Do changes affect MEIs?

As mentioned, in February, the federal government released an update to the progressive Income Tax (IR) table, now with payment exemption for those who receive up to two minimum wages.

However, it is important to highlight that this change does not apply to individual microentrepreneurs (MEIs).

Who needs to declare Income Tax 2024?

Namely, the requirements for mandatory declaration include:

Taxable income exceeding R$ 28,559.70. Non-taxable income or taxed exclusively at source above R$ 40 thousand. Annual gross income from rural activity above R$ 142,798.50. Intention to offset losses from rural activity from previous years or futures. Possession or ownership, until December 31, 2023, of goods or rights, including bare land, above R$ 300 thousand. Carrying out operations on the stock exchange, commodities, futures and similar. Capital gain on the sale of goods or rights subject to taxation.Option to be exempt from tax on capital gains on the sale of residential properties followed by the acquisition of another, within 180 days.Change to resident status in Brazil in any month of 2023, remaining in that condition until December 31, 2023.

The IRPF 2024 declaration must contain detailed information about income, both taxable and non-taxable, received throughout the 2023 calendar year.

How to file a Personal Income Tax (IRPF) declaration?

In principle, there are three options for sending information:

e-CAC Portal: My Income Tax: or Declaration Generator Program (PGD): https://www.gov.br/receitafederal/pt-br/centrais-de-conteudo/download/pgd.

The declaration can be completed manually from the Annual Adjustment Declaration (DIRPF) from the previous year or through a pre-filled declaration with current data provided by the Federal Revenue Service.

Furthermore, it is important to note that there are limits to the declaration through the e-CAC portal and through the application, and in some cases it is mandatory to complete it through the Declaration Generator Program.

What is the deadline for submitting the IR 2024 declaration?

Finally, the 2024 Income Tax declaration can be submitted between March 15th and May 31st, as established by the Federal Revenue Service.

This 77-day period provides sufficient time to gather and submit all necessary documentation.

However, if the declaration is not submitted within the stipulated deadline, the taxpayer will be subject to fines, which vary according to the length of delay and the amount of tax due.

Ensuring the timely delivery of documentation is essential to avoid future complications and maintain the regularity of the CPF before the Federal Revenue Service.

More about INCOME TAX 2024: What happens to those who DO NOT declare Income Tax? 2024 Tribute is APPROACHING

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