What is IRRF and What Is It For

You can buy here phone number list
Post Reply
sormikhatun
Posts: 1
Joined: Sun Feb 12, 2023 4:15 am

What is IRRF and What Is It For

Post by sormikhatun »

People usually have several questions about taxes, because the Brazilian system is quite complex. One of the main ones is about what IRRF is and what it is for. The IRRF (Income Tax Withheld at Source) is a discount applied to salaried workers. The advantage of knowing how it works is to avoid problems with the Revenue and to organize yourself better financially. On this topic you will see in the article what is IRRF and what is it for how is IRRF deducted how is the IRRF refunded? What is IRRF and what is it for? Although it is common to wonder what IRRF is and what it is for, understanding how this tax works is simpler than it seems. The deduction takes place automatically in the wage earner's remuneration.

The IRRF is only deducted from those who exceed the ceiling determined by the Federal Revenue Service. Currently, this amount is To make the calculation, the RF considers the gross salary minus the contribution to the INSS. If the taxpayer has dependents, the account also considers R$ 189.59 for each one. So, if there are two children, it will be R$ 379.18. For example, imagine that a person earns R$2,800. In this USA Phone Number List case, the INSS rate is 12% and, therefore, R$336 is deducted from it. This found value is what is used. However, if that individual has three children, the basis for the calculation changes. From the R$2,464, R$568.77 is subtracted, which totals R$1,895.23 — an amount that is exempt from taxation. All the money collected with the Income Tax, including the IRRF, is destined for the government to make investments in infrastructure works, basic sanitation, education, assistance programs, among other services.

Image

If the employee realizes that the tax is not being deducted, it is important to notify the company and make the due payment himself. Non-payment of the tax may result in problems with the Tax Authorities. How is the IRRF refunded? Now that you understand what IRRF is and what it is for, in addition to knowing how it is discounted, it is also important to understand your refund. When taxpayers deliver the income tax return, the Federal Revenue is able to analyze the earnings and expenses of each one. Often, the taxes collected are greater than the amount owed. In these cases, the RF returns what is left to the individual. There is only one way to find out if you are entitled to a refund, and that is to provide all the information requested. The program does the calculation automatically and you don't have to worry.
Post Reply