On 13 March 2024, the Brazilian IRS published Normative Instruction 2.180/24 (“IN 2.180/24”), which provides for the taxation of income earned by individuals resident in Brazil from non-interest-bearing deposits abroad, foreign currency held in kind, financial investments, controlled entities and trusts abroad, as well as the option to update the value of assets and rights abroad.
The long-awaited IN 2.180/24 regulates Law 14,754/23, which was passed on 12 December 2023 and brought important clarifications regarding the taxation by Income Tax of individuals (IRPF) with assets abroad.

On 13 March 2024, the Brazilian IRS published Normative Instruction 2.180/24 (“IN 2.180/24”), which provides for the taxation of income earned by individuals resident in Brazil from non-interest-bearing deposits abroad, foreign currency held in kind, financial investments, controlled entities and trusts abroad, as well as the option to update the value of assets and rights abroad.
The long-awaited IN 2.180/24 regulates Law 14,754/23, which was passed on 12 December 2023 and brought important clarifications regarding the taxation by Income Tax of individuals (IRPF) with assets abroad.

On 8 August 2023, the Report of the Provisional Measure No. 1.172 of 2023, that provides new rules for the minimum wage in Brazil, was presented and approved by the Joint Committee in charge of this at the Brazilian Congress.

The Report incorporated the main changes on the taxation rules for individuals investing abroad, previously provided in Provisional Measure 1.171/23, which regulates the taxation of earnings by Brazilian individuals in financial investments, controlled entities and trusts abroad.

In brief Brazilian taxpayers can already submit their Declaration of Foreign Assets, which is due on 5 April 2021, to the Brazilian Central Bank (DCBE). The declaration must be filed by individuals or legal entities resident, domiciled or headquartered in Brazil, with foreign assets in the amount equal to or…