IRS: Como é tributado um PPR e como poupar no imposto?

IRS: How is retirement savings taxed and how to save on taxes?

How does the taxation of a pension savings plan (PPR) work in terms of IRS? According to the Tax Authority (AT), there are five factors to consider for this purpose. Let's see what they are and in what other ways you can save on the 2023 tax.

04 Dec 20232 min

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Savings with credits and/or insurance is with Poupança no Minuto. Contact us and find out if we can lower your installments! Or read first how PPR is deducted in IRS and how to save even in this tax.

How is a PPR taxed in IRS?

The Tax Authority (AT) shared a guide "Taxation of financial products in IRS", explaining the taxation of retirement savings plans (PPR) in IRS.  

According to a news shared by Notícias ao Minuto, the guide states that there are five essential factors that must be considered for the taxation to be applied to the income:

  • "The type of financial product"
  • The financial operation in question;
  • The nature of the income/gain (or loss) obtained;
  • The investor / owner's residence;  
  • The location of the income / gain acquisition."  

When it comes to PPR, the values invested in the products are tax deductible by 20% to the IRS collection per taxpayer, with the following maximum limit:

  • 400 euros for passive subjects below 35 years of age;  
  • 350 euros for taxpayers aged between 35 and 50 years old;  
  • 300 euros for the passive subject over 50 years old.

How else can I save on IRS?

According to Notícias ao Minuto column, signed by Dantas Rodrigues, "Work and taxes (un)complicated", there are still small actions you can take to save on the 2023 IRS.

So that taxpayers can still lighten their tax burden, you can follow these steps: 

  • "Always request invoice with taxpayer number so you can later deduct"
  • "Next, these invoices should be confirmed and validated on the e-invoice portal."
  • After that, "these expenses will be deducted from the collection", so the taxpayer can present "expenses that will be subtracted from the amount that would be subject to taxation, thus reducing the tax to be paid";  
  • And finally, "take advantage of tax benefits, since there are several fiscal benefits that can be enjoyed, such as investments and donations".  

If you still need to organize your wallet for 2024 and have credits and/or insurance, it may be time to review the conditions of the contracts, or even transfer them. Contact Poupança no Minuto and find out what we can do for you, in your case!

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