Millions of Brazilians still have to do income tax returns

Conventional wisdom and folklore says that Brazilians love to leave everything for the last moment. Is that a stereotype?

The income tax deadline in Brazil ends today – 11:59:59 pm, sharp. According to the IRS (“Receita Federal”), as of Sunday afternoon, there were still well over 3 million returns that had not been posted. As of 9:00 am yesterday, the Receita Federal had received almost 21.3 million returns out of the 25 million they believe be will eventually be filed .Taxpayers in Brazil are encouraged to use the internet.

“It is a good idea not to leave this for the last moment in order to avoid nasty surprises,” declared Joaquim Adir, the national IRS supervisor. Adir explained that often a document is missing and then it too late to get it (although banking information is available on the internet for clients who use internet banking and have passwords to access their accounts).

The Receita began receiving returns on March 1. On Friday, April 27, the Receita reported that it was receiving 120,000 returns per hour.

In Brazil, anyone with income over R$23,499.15 in 2011 must submit a return. Non-taxable income of over R$40,000 must also be declared. And farm activity worth over R$117,495.75 as well.