Receita Federal Refutes Viral Claims of Tax on Transactions Over R$5,000

Overview

• In a Dec. 29 notice, Brazil's tax authority warned that social media messages about a new levy on transfers from R$5,000 are fabricated.
• The agency said there is no 27.5% tax on transactions and called the circulating percentage claim completely false.
• It rejected the invented 150% penalty and reiterated that the Federal Constitution forbids taxation of mere financial movements.
• Officials cautioned that spreading lies and financial panic only serves criminals and urged the public not to share the posts.
• The statement highlighted a real change for January: full income-tax exemption for earnings up to R$5,000 and a discount for those earning up to R$7,350.