Entrepreneurs who use PIX as a payment method should pay attention to a new measure from the Federal Revenue Service, which promises to tighten supervision over financial transactions carried out through this system. From this year 2025, the Financial institutions will be required to send detailed information to the IRS about transactions made via PIX, credit cards and other operations.
receive PIX in the account. (Image: Jeane de Oliveira/ FDR)
According to an article from G1, the main new feature is the inclusion of payment institutions (IPs) on the IRS radar. IPs are companies that facilitate financial transactions, like Pix, but do not offer services such as loans and financing. From now on, these companies must also send the Revenue information about the operations carried out by their customers.
Data collected by those who receive PIX
The IRS will receive information about:
- PIX: all transactions carried out through Pix, including value and date;
- Credit cards: information about purchases, payments and withdrawals made with credit cards;
- Financial applications: transactions in savings accounts, investments in shares and other financial products;
- Insurance and private pension: insurance payments and contributions to private pension plans.
The main objective of this new inspection is to combat tax evasion and ensure that all taxpayers comply with their tax obligations. With a larger volume of data, the Revenue may identify inconsistencies in Income Tax declarations and other tax irregularities.
Specialist Danielle Santana, FDR's collaborator, comments on the news at Nubank that makes Brazilians happy with the ease of using PIX; check it out.
How will the data be used?
The data collected by the Federal Revenue Service will be cross-referenced with other information, such as the Income Tax declaration, to identify possible discrepancies. If irregularities are found, the Taxpayer may be fined and subject to fines.
Taxpayers must keep their registration data updated at the Federal Revenue Service and issue invoices for all their operations. Furthermore, it is important to declare all your income and assets in your Income Tax return.
