How is the income tax return in other countries? paying off

Filling out an income tax return is a task that can be complicated for taxpayers from countries other than Brazil, even though our tax system is distinct from a technological point of view. For citizens who earn income from their salary or earnings from a small one-person business, the US declaration is very simple, according to attorney Joao Pedro Falls, of Miami-based Saint Joseph Law. One important difference is that in the US there is no declaration of assets, according to Falls.

For citizens with assets abroad, on the other hand, the US declaration is more complex than the Brazilian declaration and requires the completion of additional forms. He also points out that Brazilian advertising takes place in a system that is more technologically advanced in many aspects than the American one.

“Here you put the CPF into the note, a lot of information is overridden, and this is already a semi-automatic declaration of everything, whereas in the US you still have to self-report a lot of information. There is an inefficiency in a system that doesn’t exist in Brazil.”

Leonardo Freitas, immigration specialist and CEO of consulting firm Hayman-Woodward, says the North American and Brazilian systems are more complex when compared to the systems adopted in the United Kingdom and Portugal. He explained that tax systems differ significantly between countries, reflecting local priorities and economic realities. All four countries offer electronic filing. Refunds are generally faster in Brazil and the United Kingdom.

“Each system has its own characteristics, and the ease of advertising will depend a lot on the individual situation of the taxpayer. In any case, the goal is the same: to fund public services and to ensure that everyone contributes according to their economic capabilities,” says the CEO of Hayman-Woodward, a global advisory firm in the field of Mobility has offices in Brazil, USA, Europe and Asia. (Eduardo Coccolo/Folhabers)

Income Tax: Comparing the Systems of the United States, Brazil, Portugal, and the United Kingdom:

• we: The income tax return is notoriously complex. Taxpayers must report a variety of income sources, from salaries and investments to rental properties and foreign earnings. The Internal Revenue Service (IRS) offers an electronic filing option, but refunds can take anywhere from a few weeks to several months. The highest federal income tax rate is 37%.
• Brazil: The process is notoriously complex due to the variety of deductions and waivers available. Brazil offers an electronic filing system, and refunds are generally quick. highest rate 27.5%
• Portugal: The income tax system is less complex than in the United States or Brazil, but it still requires some familiarity with tax law. Portugal also offers electronic declaration, and the refund is relatively fast. highest rate 48%
• United kingdom: In the UK, many taxpayers are exempt from reporting income tax because of the pay-as-you-earn system, which automatically deducts taxes from wages. For those who need the permit, the process is generally simple, and electronic filing is available. Refunds are usually processed within a few months. highest rate 45%

Source: Hayman-Woodward, a global mobility advisory firm with offices in Brazil, USA, Europe and Asia

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