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AN IMPORTANT POINT. DO I NEED TO DECLARE MY CRYPTOCURRENCIES ON MY INCOME TAX?! Yes, in Brazil, you need to declare your cryptocurrencies on your Income Tax if you have engaged in transactions that reach certain limits. The Federal Revenue requires that all taxpayers who own cryptoassets, such as Bitcoin, Ethereum, or other digital currencies, report this ownership.
Here are the main points for declaring cryptocurrencies:
1. Limits for declaring
• If you sold more than R$ 35.000 in cryptoassets during the year, you will have to pay tax on the profit obtained from the sale.
• If the sales did not exceed this amount, you are exempt from paying tax, but still need to inform about the cryptos in your declaration.
2. Where to declare
• Cryptocurrencies must be reported in the "Assets and Rights Form," with code 99 (Other assets and rights).
• You must report the acquisition value of the cryptocurrencies and the quantity you own.
3. Tax on gains
If you have profit from the sale of cryptocurrencies, the tax will be calculated based on the capital gain. The rate varies according to the amount of profit:
• Up to R$ 5 million: 15%
• From R$ 5 million to R$ 10 million: 17.5%
• From R$ 10 million to R$ 30 million: 20%
• Above R$ 30 million: 22.5%
The exemption applies to sales below R$ 35.000, provided that the total sales in the year do not exceed this amount.
4. Projections for 2026
Regarding the rate for 2026, we do not have an exact certainty, as the rates may be adjusted annually by the government. However, it is quite possible that the tax structure remains similar to what we already have, with variations in the rates depending on the amount of gain.
It is always important to keep track of updates from the Federal Revenue and consult a specialized accountant in cryptoassets, especially considering that the tax scenario may change over time.