How to plan for income tax for 2022

The new year has arrived and with it the IPVA and IPTU bills and the famous personal income tax return. despite of Income tax A little later, people should start planning at the beginning of the year, so as not to miss the deadline, and also, so that their hair does not stand on end at the announcement.

Luis Carlos de Souza Lima, Executive Director of NTW Accounting and Business Management at Dom Cavati, Minas Gerais, explains that filing for income tax, which must be within the deadline set by the Federal Revenue, is just one of the precautions people should have, but this It does not end immediately upon submission, because the transmitted information is subject to verification, verification and inspection over the next five years, and for this reason, attention should also be paid to the subsequent processing of the delivered declaration.

“It is necessary to understand that the announcement, although it is delivered in the financial year, is made with information from the previous year, called the calendar year. Therefore, some important decisions must be taken during the calendar year and not only during the current year,” explains Lima.

For the CEO, it is essential that people use the time to their advantage to make the right decisions at the right times, to organize the necessary documents and fulfill the legal obligations which may exist, as the case may be, from month to month or, eventually, in a particular month of the calendar year. Thus, fines and corrections for late payment of obligations or non-compliance with these obligations can be avoided.

Tax reform will affect the income tax of individuals

In the tax reform proposal, there are significant changes that may affect the income tax for individuals, such as, for example, the increase in the scope of the exemption, the establishment of a new rate on capital gains, taxes on dividends, among other news.

“If the reform is approved, good opportunities may arise to plan for a future sale or succession of a property, for example. In addition, it will be very important to re-strategize and tax planning to adapt to the new in the future,” explains the NTW Executive Director.

Income tax refund

It is very common for some people to “measure” well-made or poorly made or even professional by the governor to receive a greater or lesser refund, and sometimes it is used as a benchmark to compare the receipt in previous years or the refund received by friends who also advertised.

Louise explains that this kind of assessment is almost always wrong. advertisement Income tax Named by Federal Revenue as the Declaration of the Annual Amendment, the word Annual Amendment itself makes it clear that what is implemented in the Declaration is, in fact, an Amendment.

“If, during the calendar year, a person pays or withholds more taxes than was calculated in the adjustment return, he will get a refund of the exact amount he has “passed”, after being duly corrected. Otherwise, if what you paid or withheld is insufficient, She will have to in the annual adjustment complete the unpaid or withheld tax.Maybe nothing or the other will happen i.e. the amount paid or withheld will be sufficient with the adjustment, and no refund or supplementation will be given.Therefore, the person is entitled to a refund when and if it is verified This requirement in his declaration, it makes sense in a legal way and is validated by Federal Revenue,” says Louise.

points of interest

The NTW CEO explains that the first step for people who do not have problems with their income tax return is to seek good technical advice, preferably before doing some work, as in the case of buying or selling goods, investments as well as investments. In the performance of any economic activities, whether recurring or occasional.

“Furthermore, it is important to strive to formalize your actions, operations or work that you may be doing, because in this way you will have items, information and documents that will help and support your income tax receipt. Good technical guidance can help specifically in cases Individuality and therefore make a huge difference for taxpayers to adjust to the tax authorities”, concludes Louise.

Today, NTW Accounting and Business Management is the largest and most endowed accounting network in Latin America, with over 195 units in 25 Brazilian states and a presence on the African continent.

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