Legal Bulletin


Alternative systems for determining individual’s income tax liability (IMAN and IMAS) will disappear, with the introduction of a system of computation by categories depending on the characterization of the item of income.

The proposal includes five (5) categories of income which are labor income, pensions, income from capital, non-labor income and income from dividends and shares.

Individuals must determine the income they receive under each category during the taxable period and assess their income tax by computing each of these categories. The project includes special rules for the realization of income for each of the categories and limits to the simultaneous recognition of costs, expenses, deductions, exempted income, tax benefits and non-taxable-income, in the same taxable period, between different categories.