The 2025 Income Tax Return period is about to begin, and it is essential that cryptocurrency investors are aware of the guidelines established by the IRS. With the recent updates, understanding the tax obligations related to crypto assets is essential to avoid inconsistencies and possible penalties.

Deadline for Declaration

This year, the deadline for submitting the declaration starts next Monday, March 17th, at 8 am, and ends on May 30th, at 11:59:59 pm.

Who Should Declare Cryptocurrencies?

According to current regulations, all taxpayers who owned crypto assets with an acquisition value equal to or greater than R$5,000.00 on December 31, 2024, and who are required to file an Income Tax Return, must include these assets in the Assets and Rights form.

Furthermore, those who made sales of crypto assets that, added together, exceeded R$35,000.00 in a single month, and made a profit, are subject to paying Income Tax on the capital gain.

Applicable Tax Rates on Capital Gains:

Up to R$5,000,000.00: 15%

From R$ 5,000,000.01 to R$ 10,000,000.00: 17.5%

From R$ 10,000,000.01 to R$ 30,000,000.00: 20%

Above R$ 30,000,000.00: 22.5%

How to Declare Your Crypto Assets:

Cryptoassets must be reported in the "Assets and Rights" form, using the following specific codes:

81: Bitcoin (BTC)

82: Other cryptocurrencies (Altcoins like ETH, ADA, SOL, etc.)

83: Stablecoins (USDT, USDC, BUSD, etc.)

89: Other crypto assets, such as NFTs and fan tokens

In the discrimination field, it is necessary to detail the quantity of each asset, the broker used or whether the acquisition was via peer-to-peer (P2P), the amount paid for the purchase and the dates of the acquisitions.

Attention to Overseas Operations:

A significant change introduced by Law No. 14,754/2023 is the taxation of capital gains obtained with crypto assets abroad, regardless of the value. The rate applied is 15%, with an annual compensation system in the same assessment period.

Avoid Penalties:

Failure to report or misreport crypto assets may result in fines and other penalties. To ensure proper compliance with tax obligations, it is recommended to seek expert guidance.

We are available to assist you:

Our team is ready to assist you in preparing and submitting your Income Tax Return, ensuring that all information is reported in accordance with legal requirements. Contact us for personalized support and to ensure your return is in compliance.

Staying informed and correctly complying with tax obligations related to cryptoassets is essential for responsible financial management in compliance with current legislation. $BTC

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