Previously, the Tax Authority already received data from traditional banks through applications

The news, widely reported by the media at the beginning of the year, caused some panic among cryptocurrency investors and a lot of speculation, but the measure only concerns amounts transferred above R$5,000 via PIX. Therefore, it is assumed that smaller amounts sent or received to/from foreign exchanges will not be included in the report and will not have an impact on small investors. Here is the article from CNN Brasil:

The Federal Revenue Service has expanded the mandatory submission of information and will now receive data from credit card operators and payment institutions (IP). The rule was announced in September and came into effect in January 2025.

Financial institutions are companies that allow the movement of resources, buying and selling, but do not offer financing and loans to consumers, such as large retailers, virtual banks and digital wallets.

Previously, the Tax Authorities already received this data from traditional banks through financial applications, Pix transactions, insurance, pensions and investments in shares.

The IRS reported that “the measures aim to improve control and monitoring of financial transactions, ensuring greater data collection. In addition, they reinforce Brazil’s international commitments under the Common Reporting Standard (CRS), contributing to the fight against tax evasion and promoting transparency in global financial transactions.”

How it will work

According to the Tax Authorities, the information will be passed on every six months, through a declaration that will be issued on the e-Financeira platform, which is part of the Public Digital Accounting System (Sped), a sector of the federal government that seeks to standardize and integrate information from organizations regarding financial and accounting management.

Therefore, data will only be sent when the total amount transferred, for each type of financial transaction, such as Pix, payment or investment, is greater than R$5,000 for individuals and R$15,000 for companies.

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