The Brazilian IRS, issued the Normative Instruction No. 2.164/2023, which established an auxiliary Program for individuals in reporting variable income operations in the Income Tax Return – the ReVar.

ReVar will be available on the E-CAC Portal and may be accessed by authenticating through the “gov.br” account.

The tax due on the variable income operations will be calculated through ReVar and will must be paid by taxpayers until the last business day of the month following the transaction, using the DARF generated by the Program.

The Program will also be applied to the incomes earned by individuals residing or domiciled abroad, except for those subject to the Special Regime on Income and Profits of Any Nature, as established by Decree No. 9.580/2018.

The Normative Instruction provides a list of the types of transactions that must be reported in ReVar, and in case of absence, inaccuracy, omission, or late submission, they will be subject to fines and may constitute a crime against tax regulations if the provided information is false.

Our Wealth Planning team is available to assist you with this and other matters.