Will Pix charge in 2024? Check BC rules

Photo: David Dvoracek/Unsplash

Recently, rumors have appeared on social media that BECs will be taxed starting in 2024. Just rumors or fact?

Hey pixelWith its speed and ease, this service has completely changed the way Brazilians conduct financial transactions. Recently, rumors have spread on social media that a tax will be imposed on it starting in 2024, but these rumors are unfounded. The central bank's rules, established in 2020, when BEX was launched, remain unchanged.

Roberto Campos Neto, head of the central bank, assured the Federal Senate that there are no plans to tax individuals in general. The current rules will remain unchanged.

When may taxes be imposed?

Although there are no general plans to tax BEX, there are some situations, according to Central Bank Resolution No. 19/2020, in which banks can impose fees. Let's see what these are.

For individuals, MEI institutions and individual entrepreneurs

1. Invoices may be issued if the customer chooses alternative channels, such as telephone or in-person service, to effect the transfer.
2. Receiving Pix for commercial purposes may incur a fee.
3. You can also be taxed on more than 30p per month.
4. Receipt via dynamic QR code or from a legal entity may also incur a fee.

For legal entities

• Taxation when the recipient is an individual and a company uses Pix with account data or key or initiate a payment transaction.
• Charge if the recipient is a legal entity and the company uses Pix with account data or key.
• Pixels received from an individual may be taxed.
• Receipt via QR code or payment initiation service by a legal entity also allows for the collection of fees.

Bank collection policy

According to the Brazilian Banking Federation (Febraban), it is up to each financial institution to decide on corporate taxation.

Some banks choose not to charge fees, while others apply fees ranging from 0.99% to 1.45% on the value of the pix, with a minimum of R$1 and a maximum of R$10. It is important that customers consult their banks or fintech companies to understand the applicable fees.

Therefore, Pix remains a practical and free method in most cases Financial transactions. However, it is essential to be aware of the rules and potentially applicable fees, especially in specific cases.