Has been increasingly simple and common for the Brazilian investor to add the bitcoin and other cryptors to your portfolio. But with the investment, comes the fiscal responsibility: the Federal requires these assets to be declared in the Income taxand carelessness can be expensive.
Those who have cryptocurrencies with acquisition value equal to or greater than R $ 5,000 should already include this information in the annual statement. The obligation is even valid if the asset is in custody abroad.
“This is worth regardless of being custody in Brazilian or foreign exchanges,” says Beatriz Naomi, tax lawyer at Souza Okawa. Accountability with the tax authorities occurs both annually, in the IR declaration, and monthly, in case of expressive movements.
In the latter case, when there is the sale of cryptors over R $ 35 thousand with profit, it is mandatory to determine the capital gain and collect the tax until the last business day of the following month. Talking ranges from 15% to 22.5%, and payment should be made until the last business day of the month following the operation, through a Federal Revenue Collection Document (DARF), using the Capital Gains Program – GCAP.
In addition, there is a specific rule for those who perform monthly operations that total more than $ 30,000, even without profit. “If there is profit or not, the taxpayer must send this information monthly to the IRS, through the National Collection System, within the E-CAC portal,” says Naomi.
Risks and fines for those who do not declare
The omission of information to the IRS may result in heavy fines – and not just the annual statement. “Do not pay DARF in the case of capital gain, or not submitting the monthly statement under the terms of IN 1.888/2019 to those who are obliged, can be fined up to 150% of the amount of tax due, depending on the infringement,” warns Lilian Sartori, Taxarist of Lopes & Castelo Lawyers.
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If the taxpayer omit information or declare incorrect data, the penalty is 1.5% of the value of the operation corresponding to the omitted or mistaken information. For those who delay the sending of the monthly obligation, the fine is $ 100 per month or fraction, and can be halved if done spontaneously.
The investor who identified errors or omissions can still correct the situation. “If you handed the annual statement with wrong information, you can make a rectifying statement by correctly informing Bitcoin data,” says Sartori. “If you have not submitted the annual statement within the stipulated period, you may submit with delay, paying the fine of 1% over the amount of the tax due, limited to 20% of this amount.”
Beatriz Naomi also recommends attention to documents containing all records, such as proof of purchase and sale, brokerage statements and transaction history. “It is important for both the correct filling and for any future proof with the IRS,” says the tax lawyer of Souza Okawa.
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Where and how to declare crypto in income tax?
As stated earlier, the investor who has more than $ 5,000 in Bitcoin or other cryptos must declare in income tax. Check out the step by step below:
| – Access the correct record: In the declaration program, go to the “Goods and Rights” form, choose the group “08 – Cryptoctive ” and select the corresponding code: 01 – Bitcoin (BTC) 02 – Other Crypto Type Digital Currency 10 – NFTS 99 – Other cryptors |
| – Fill in the required data: In the “Discrimination” field, enter the number of currencies, the purchase date, the amount paid (always the acquisition amount, not the market value) and the brokerage name and CNPJ (if any). In the field “Situation on 12/31/2024”, repeat the acquisition value; |
| – Did you sell Bitcoin? Check the exemption limit: More than R $ 35 thousand in Bitcoin was sold in the month and made a profit, needs to investigate capital gain; |
| – Enter the profits in the statement: After generating the data in the GCAP, import the information to the form “income subject to exclusive/definitive tax” of the annual declaration; |
| – Operations in foreign brokerages: Custoded abroad crypts are treated as financial investments abroad. Annual net gains must be informed in the “profit or loss” field, within the same form “goods and rights”, in the corresponding item, with a fixed rate of 15%. If there was positive exchange rate variation between the currency used to buy crypto and the real, this is also taxable; |
| – Tax paid abroad: If the investor paid capital gain outside Brazil, it is possible compensate this value. FIELD INFORM “Tax paid abroad”within the same section of “financial application”; |
| – Correcting errors or omissions: If you forgot to declare or made errors, send a rectifying statement with the corrections. If you have not paid profit tax, the guidance is to generate DARF overdue with fine and interest. |