Income taxes for expats

04/29/24 However I am just surprised to read that Brazil has the expectation of collecting income tax on my SS benefits.   
Any suggestions? Anybody in the same boat?
Thank you!!!   

    -@metroliner

Welcome!  I'm certainly in the same boat, and I would think that most retired Americans living permanently in Brazil are.  All of my income is US-based.  Brazil takes taxes paid in the US into consideration to some extent, but there's no tax treaty between the two countries.  For 2022, my Brazilian taxes were about 60% of my US taxes.  Everyone's situation is different, so you will want to find a Brazilian accountant to assist you once you're living here.

Not living in Brazil permanently at the moment but am a permanent resident.  All my income is still earned in the US.  I've moved a lot of money to Brazil over the past two years (land purchase, remodeling, care, bills, etc).  We file taxes every year on the money transferred but our tax bill has been zero.  My lawyer in Brazil manages it through his accountant.  I can provide contact info if interested.

@madrac

Same for me! I have made numerous transfers over the past 17 years, but because I have already paid tax on these funds in the UK, I only pay tax in Brazil on my income in Brazil.

I spoke to my lawyer who argued that money earned in the US that is taxed and isnt tranferred to brazil wouldnt require additional taxes in my case. has anyone else heard something similar?

@rnbtg

Bitributação, or double taxation - being taxed twice on the same funds for the same purpose - is illegal under the Brazilian Constitution.

Others would argue that you should pay taxes in Brazil, however everyone's situation is different. So always follow the advice of a professional...

On the other hand, I am sure if you offered to pay more taxes in Brazil they would bite your hand off!

@madrac

Thank you for your input, but does'nt Brazil require to report all your income every income? I just don't know what the procedure looks like...

@rnbtg

Thanks for your input, I would like to contact of the accountant you use...

@metroliner im going through my lawyer who coordinates with an accountant. Since its my first time Id recommend checking with other pros here for recommendations

There a new tax law in Brazil just passed in 2024. They are going to tax all your investment all over the world. I put up a disscussion in this group explaining the new law. it anywhere from 8% to 15% on any profits you make if you are a resident or citizen. Example if you sell a property outside of Brazil they will tax you on the profit 15%.