This Wednesday (15), the deadline for submitting the 2023 Income Tax declaration begins. Taxpayers have until May 31 to submit the duly completed documentation. In the case of individual micro-entrepreneurs (MEIs), it is necessary to submit both the individual and legal person declaration.
To help fill out the 2023 Income Tax return, Canaltech has gathered some tips on who needs to declare and what documents are required for each model, check out:
How to fill out the Income Tax declaration being MEI?
Legal person: Annually, every MEI must deliver the Annual Declaration of Simple Nacional (DASN-SIMEI). This document contains the value of sales or services provided in the year in question — even if you have not invoiced in the period.
The deadline for submitting the DASN-SIMEI is open until May 31st and the document to be completed can be found on the Portal Simples, Federal Revenue website. It is worth mentioning that, if the billing exceeds the annual limit of BRL 81,000, the professional is no longer classified as MEI.
Physical person: The individual micro-entrepreneur who received taxable income above R$ 28,559.70, approximately R$ 2,380 per month, must declare the Individual Income Tax (IRPF). The taxable income is equivalent to the evidenced profit, that is, it takes into account the subtraction of costs related to the enterprise, such as water, electricity, gas, etc.
How to calculate the income tax amount?
To calculate the amount to be paid in Income Tax, the taxpayer must subtract the evidenced profit from the portion of gross revenue that is exempt from the tax. The rates are: 8% of gross revenue for commerce, industry and cargo transport; 16% of gross revenue for passenger transport; and 32% of gross revenue for services.
(Taxable income) = (Evidenced profit) – (% exempt portion)
The amount of taxable income must be completed in the “Taxable Income Received from Legal Entity” section. With this information, the program calculates the income tax payable, considering the rates of 7.5%, 15%, 22.5% and 27.5% — applied according to the income of each individual.
The difference between individual micro-entrepreneurs and self-employed professionals is the fee-free percentage depending on the sector in which the MEI operates. The self-employed need to declare everything to calculate the tribute.
Source: MoneyTimes
