Tax accountant with crypto reports and tax forms

Tax accountant reviews cryptocurrency reports and IRPF forms in an office on an overcast daytime.

About this subject

The Brazilian Individual Income Tax Return (IRPF) has become more complex with the mandatory reporting of cryptocurrencies. Since 2019, Brazil's Federal Revenue requires taxpayers to disclose crypto asset transactions, such as Bitcoin, Ethereum, and stablecoins, on specific forms (e.g., Carnê-Leão and the Assets and Rights Declaration). The tax accountant, specialized in digital taxation, must reconcile transactions recorded on national and international exchanges, calculate capital gains per Normative Instruction RFB nº 1888/2019, and correctly fill the IRPF software. On overcast days, natural light in the office mirrors the meticulous routine of reviewing wallet statements, brokerage invoices, and sale receipts. Brazil's growing crypto adoption, which moved over R$ 100 billion in digital assets in 2023, makes this work increasingly sought after. Non-compliance can lead to fines of up to 20% of omitted amounts, plus audit risks. The accountant acts as a fiscal guardian, ensuring each transaction is reported within legal deadlines, typically from March to May each year.

Frequently Asked Questions

Which cryptocurrencies must be declared on the IRPF?

All cryptocurrencies, including Bitcoin, Ethereum, stablecoins, and tokens, must be declared if the acquisition value exceeds R$ 5,000 per month or if there is capital gain on sale.

What is the deadline for declaring cryptocurrencies on the 2024 IRPF?

The deadline for the 2024 IRPF (tax year 2023) was from March 15 to May 31, 2024. For subsequent years, deadlines are similar.

What happens if I don't declare my cryptocurrencies?

Omission can result in a fine of 1.5% to 20% of the undeclared amount, plus interest and inflation adjustment. The Federal Revenue can cross-check exchange data to identify inconsistencies.