On Nov. 9, BVMF issued calculator for personal income tax calculation.
BVMF implemented ReVar calculator to calculate Personal income tax (IRPF).
ReVar calculator is joint initiative of BRZ Tax (RFB) and B3, for calculating IRPF.
It will provide individual investors with security to keep up to date with tax obligations.
IRPF Calculation
Normative Instruction RFB 2.164 (IN) required that B3 participant send brokerage information to the central depository, an important step in calculating the IRPF.
Investors will be able to manage and monitor Darf generation through the e-CAC/RFB.
Participants must also receive production certificate with ReVar calculator credentials.
Also configure credentials within Sinacor or infrastructure to send the brokerage data.
Timelines
Two stages to calculate capital gains using the ReVar calculator, Jan. 2024, will cover transactions on the spot market, from Jan. 2025 will cover derivative and asset loans.
Implementation stage 1 runs from Nov. to Dec. 2023 for a small amount of investors.
Beta testing stage will run from Jan. 2024 to Mar. 2024 to selected target audience.
From Apr. 2024 new stage of the ReVar calculator available to all individual investors.
Nov. 22, 2024 BVMF Update
On Nov. 22, 2024, BVMF published External Communication 050/2024-VPC re ReVar.
The Auxiliary program for calculating personal income tax on variable income transactions (ReVar), set by BRZ Tax, established obligations for the listed entities.
Such as stock, commodity, futures exchanges, organized over-the-counter entities; clearing and settlement houses; central depositories; brokerage firms, and securities.
The listed entities, as intermediaries, provide information following Instruction 2.164.
Including brokerage fees charged to clients, previously authorized by the investor.
Fines in case of not sending data, incorrect or incomplete data, data outside deadline.
In both versions of ReVar, the submission of information is mandatory from Jan. 2025.
Regulators
BRZ Tax; BVMF
Entity Types
B/D; Corp; Exch
Reference
Com 050/2024-VPC, 11/22/2024; Cir 058/2023-VPC, 11/9/2023;
