The new tax scheme was presented this Thursday by the National Government with a variation in the calculation of income tax.
In the Organic Law for Strengthening the Family Economy, three formulas are established for determining the maximum amount of reduction of this tax for natural persons. The government expects that the changes will enter into force from the same year, 2023.
How much income tax will you pay if the tax reform is implemented?
According to your personal expenses, you will use one of these formulas:
The Tax Administration (SRI) has provided a calculator to familiarize taxpayers with the new scheme.
The current cut is 10% and 20% of personal expenses that were limited to seven basic baskets, about $5,000. A 10% reduction was achieved by those who reported an annual income of more than USD 25,000, and a 20% reduction by those who had less than that value.
You can also do so on this SRI page check income tax and currency which generated
Source: Eluniverso
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