Income tax for small businesses delayed until June

Brazil new tax on financial transactions

Small companies will now have until June 30 to submit their income tax returns to the Federal Revenue Service, with the deadline extended as a result of the Covid-19 pandemic.

This change so far only applies to companies, because, as The Brazilian Report has already shown, revenue authorities do not plan on altering the deadline for individuals to submit their tax returns. Brazilian citizens and residents have until April 30 to declare their earnings. “Over 90 percent of people submit their forms online, so [postponing deadlines] is not on our radar at the moment,” said one representative of Brazil’s Federal Revenue Service.