This is the reply from my accountant, Kaidei Contabilidade, Fortaleza and Sao Paulo.
This rules is specific for private people (NOT COMPANY)
1) If you sell after 5 years of ownership of the property and it is the only property you own in Brazil, and the property sale is under R$440,000 then it is tax free on Capital Gains.
Related the sales, if you sell the property after 5 years, you will have an apportunity to reinvest for buying a new land without tax within 6 months for doing the new operation. If you only sell the land after 5 years, you will pay tax. BUT IF YOU REINVEST THE AMOUNT WITHIN 6 MONTHS YOU WON´T PAY TAX. This mention according the Brazilian law is related the quantity of R$ amounts more than R$ 35.000,00, because if you have the amount of sale value less than R$ 35.000,00 you will not pay any tax ( will be tax free). For this rule, the property sale could be over R$ 440k.
2) a) Regardless of when you sell or the amount of sale, if you reinvest within 6 months the full amount then this would also be tax free. b)If you reinvest with the 6months but under the full total sale price, you may pay some CG tax but can be offset against your new investment.
a) it is correct ( you will not pay tax if you do this operation ONLY once per 5 years within 6 months for bying a new piece of land);
b) it is correct ( you will pay tax for the difference)
3) You can also claim back 4% a year on de- appreciation for every year you have owned the property against any CG.
For this question, may you please give me more details for answering this question.