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    Guidelines for declaring racing income on IR

    Camelia KirkBy Camelia KirkApril 16, 2024No Comments2 Mins Read
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    Guidelines for declaring racing income on IR
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    Application driversAlthough they are self-employed professionals, they are not exempt from income tax (IR). To ensure compliance with tax obligations, it is necessary to understand how to file the return correctly, avoid problems with the tax authorities and ensure tax regularity.

    Mandatory declaration

    Income tax declaration is mandatory for app drivers whose income exceeds R$ 30,639.90 in 2023. It is worth noting that only 60% of the value of trips is subject to taxes, which may significantly affect the calculation of the tax due.

    Advertising procedures

    To file an income tax return, the application driver must follow these steps:

    • Carne Leo Collection: Monthly and professional Self-confident He must collect taxes related to the races through the carnê-leão. This document acts as a type of tax payment receipt, allowing the taxes owed to be recorded and paid.

    • Consolidation of payments: At the end of each year, the driver must collect all payments made and file an income tax return. In this process, all sources of income must be taken into account, not just the profits obtained by running the application.

    • Refund check or additional payment: After the declaration, the professional will be able to check whether he is entitled to a refund or whether he will need to make any additional income tax payments. This calculation takes into account all declared income, including income from app trips.

    Delivery time

    Personal Income Tax (IRPF) for 2024 must be filed by May 31. It is essential that app drivers adhere to this deadline to avoid fines and complications with the tax authorities.

    See also  The British economy is coping well with higher interest rates, the Bank of England says

    Therefore, app drivers should be aware of the duty to declare Income tax, even if they are self-employed professionals. Collecting taxes monthly through Carnê-Leão and completing the annual return are essential measures to ensure regularity of taxes and avoid problems with the tax authorities.

    By correctly following the outlined steps, drivers can fulfill their tax obligations efficiently and smoothly.

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    Camelia Kirk

    "Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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