taxes on transferring funds to Brasil ?

Discussion in 'Brazil Property' started by petetoms, Jan 1, 2015.

  1. petetoms

    petetoms New Member

    I am British living in Brasil, and about to buy a property

    Do I pay tax on transfer into Brasil ?

    I have sent my wife a gift and she now ash to pay 5% tax on this

    But the property funds will come from me, to Banco Brasil, to the seller (this is the route I have been advised), so i then pay 0.38% govt fee

    But no mention of any other tax ?

    Any insight would be great

    Cheers

    Pete
     
  2. debzor

    debzor New Member

    How are you sending the funds to Brazil? The correct way is by declaring them to the Central Bank when they enter, and then you will be liable for the IOF 0.38% tax, and possibly a local bank handling charge, but no more. If you just sent your wife a gift from your own funds, there are ways to minimise your extra costs.
     
  3. debzor

    debzor New Member

    ...but the person receiving the funds pays this - not you, the sender...
     
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