Don't want to declare Income Tax? See what the CONSEQUENCES of failing to comply with this obligation are

The period to declare Income Tax is approaching and those who have this obligation to fulfill cannot miss the deadline. After all, this would cause serious tax problems.

Every year, the IRS summons thousands of people, within certain specifications, to submit a summary of their annual earnings and expenses.

Now, have you ever stopped to think about the consequences of not declaring Income Tax? Many Brazilians, whether due to forgetfulness, ignorance or even choice, end up not complying with this tax obligation.

But, do you know what this can entail? It may seem like a small thing, but in fact this attitude will cause you a huge headache in the future. Understand.

If you don’t declare your Income Tax, see what could happen to your CPF! / Credit: @jeanedeoliveirafotografia /

Declaring Income Tax is not just a formality; It is an action that proves your financial situation to the government and various institutions.

Failure to fulfill this responsibility can lead to a series of complications, ranging from fines to financial restrictions.

Who must declare Income Tax?

If you had taxable income above R$28,559.70 in 2023, capital gains, profitable rural activity or assets and rights above a specific value, it’s time to settle the score with the Federal Revenue.

In fact, even if you don’t fit these criteria, but are resident in Brazil, be aware of the rules.

The consequences of not declaring Income Tax

Not declaring your Income Tax can take you into the thick of things, where your tax situation will be analyzed with a magnifying glass by the Federal Revenue Service.

Additionally, you could be fined up to 20% of the amount you already owe. But the complications don’t stop there:

Penalty for delay: did you not submit the declaration on time? Prepare yourself for a fine of 1% per month on the total tax due; Income omission: if you forget to declare some income, the fine can be 75% on the undeclared amount; Tax evasion: in cases of bad faith, the fine can reach 150% of the amount owed.

Also follow: Did you enter RED? See how to make your money RENDER this year to recover financially!

And the penalties?

Furthermore, the penalties go beyond fines. Not declaring Income Tax can prevent you from obtaining negative certificates, complicating obtaining loans and financing.

In more serious cases, you may be included in the Union’s active debt, leading to seizure of assets and blocking of accounts.

How to regularize your situation

If you are late with the declaration, it is not time for panic, but for action. The first step is to seek guidance from a specialized professional to submit overdue declarations and pay the fines and taxes owed. This way, you avoid major headaches and guarantee your financial peace.

Why declare Income Tax?

Declaring income tax is a way to ensure your tax regularity and avoid problems that can affect not only your financial health, but also your peace of mind.

This year, the deadline starts on March 15th and runs until May 31st. So don’t leave it until the last minute. Organize your documents and fulfill this important obligation.

Don’t leave your obligations for later!

Finally, remember, being up to date with Income Tax is more than an obligation; It is an act of responsibility for your financial future.

So, how about taking this moment to organize yourself and make sure everything is in order? This way, you can enjoy your income and assets with peace of mind and security.

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