The vehicle market has been experiencing an unusual situation in recent months. Used cars and motorcycles, especially used ones, are now worth more than they were a few years ago. If you sold your vehicle in the last year, chances are you received more than you paid for it at the time of purchase.
This profit obtained on the sale of the vehicle is called a capital gain on the income tax return. It is subject to 15% tax and must always be paid in the month following the sale of the asset. If the sale value is less than R$ 35 thousand, the taxpayer is entitled to tax exemption. But, even exempt, it is necessary to inform the capital gain in the declaration.
See below how to post the sale of a vehicle in Income Tax 2022, how to report the capital gain, how to calculate and pay the tax.
The first step is to update the “Assets and Rights” sheet. It is mandatory in all cases, regardless of whether you sold the vehicle for more or less than you paid for it.
Update the Assets and Rights sheet
If you sold a vehicle last year, with or without a capital gain on the sale, you must update the “Assets and Rights” form to inform the IRS that you no longer own the vehicle.
If you already declared this vehicle last year, when importing last year’s declaration (IR 2021), its data will already appear on the form.
Locate the “Assets and Rights” tab in the menu on the left side of the IR 2022 program screen. Open the tab and locate the vehicle sold in your assets list. Click on it to edit the sheet.
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In the “Discrimination” field, inform that the vehicle was sold in 2021 and the sale value. Also inform the name and CPF or CNPJ of the person or store that purchased the vehicle.
In the “Situation on 12/31/2020” field, keep the amount declared in last year’s Income Tax. In the “Status on 12/31/2021” field, enter a value of zero. Click “OK” to complete filling the form.
Exemption applies to sales of up to BRL 35,000
If there was a capital gain on the sale of the vehicle, but the value of the sale did not exceed R$ 35 thousand, there is no tax charge. The legislation considers it a small value business and, therefore, it is exempt from capital gain tax.
However, even not being taxed, the capital gain obtained in the sale needs to be declared in the IR 2022 so that the Federal Revenue follows the variation of the taxpayer’s assets.
If this is your case, fill out the IR 2022 declaration as explained below. There is no need to download and complete the GCAP 2021 program.
Locate the “Exempt and Non-Taxable Income” form on the menu on the left side of the IR 2022 filling out program screen. Open the form and click on “New”.
Select the code “05 – Capital gain on the sale of an asset, right or set of assets or rights of the same nature, disposed of in the same month, with a total disposal value of up to R$ 20,000.00, for shares sold on the over-the-counter market , and R$ 35,000.00, in other cases”.
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Then, enter the capital gain you had from the sale of the vehicle in the “Amount informed by the taxpayer” field. The capital gain is the profit of the business, that is, how much you received for the vehicle minus what you paid for it.
Click “OK” to complete filling the form.
How to declare capital gain on sale above BRL 35,000
If the vehicle was sold for more than BRL 35,000 and the business generated a capital gain, that is, you sold it for a greater amount than you paid for the asset, you will have to update the “Assets and Rights” form as before. explained above and also complete the GCAP 2021 program to calculate the tax.
The GCAP 2021 program is available on the IRS website. Click here to download the program. It will assist in filling out the income tax return.
After installing the program on your computer and opening it, click “New” in the “Demo” menu, which appears on the left side of the GCAP 2021 program screen. Enter your CPF, telephone number, name and country of residence.
Then, in the date fields, put 01/01/2021 at the beginning and 12/31/2021 at the end. Click “Ok” to complete the identification form.
Now, locate in the menu on the left side of the screen of the GCAP 2021 program the tab “Rights / Movables”. Click on it and then click on “New”.
In the “Identification/Acquisition” tab, inform if the vehicle was purchased in Brazil or abroad. In the “specification” field, inform whether the vehicle is a “car”, “motorcycle” or “truck”. In the field “Subject to public registration?”, click “Yes”.
Then, inform the “acquisition date” of the vehicle and how much you paid for it in “acquisition value”.
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Now, click on the “Acquirers” tab at the top of the screen and then click on “New”. Inform the CPF or CNPJ and the name of the person or store that purchased the vehicle. Click “OK”.
Then click on the “Operation” tab. In the “Nature” field, select “sale”, then enter “yes” if the sale of the car was paid in installments or “no” if the payment was made in cash.
Under “Date of Disposal”, state when the vehicle was sold. Inform the value of the sale and, if there was a commission payment to the store or seller, put this value in the “brokerage cost” field. In the question “Has there already been partial disposal of this asset?”, click on “no”.
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Now, check the purchase and sale values of the vehicle in the “Accuration” tab. If there is an error, go back to the previous tabs to correct the values.
On the “Tax Calculation” tab, the program will inform you how much capital gain tax you will have to pay.
Click “Back” at the bottom of the page to complete filling out the GCAP 2021.
Print Darf and export from GCAP 2021 to IRPF 2022
Before closing the 2021 GCAP program, you must take two steps: print the Darf (federal tax filing document) to pay the capital gain tax and export the 2021 GCAP file to the Income Tax Return Filling Program. 2022 (IRPF 2022).
To generate the Darf, locate the “Print” menu on the bar on the left side of the GCAP 2021 program screen. Click on “Darf Rights/Assets/Corporate Interests”.
Select your name and CPF from the list of files saved in the program. On the next screen, choose whether to “Preview”, “Generate a PDF file” or “Print” Darf” and click “OK”.
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To export the GCAP 2021 file to the IRPF 2022 program, locate the “Tools” menu in the menu on the left side of the GCAP 2021 program screen. Select the “Export to IRPF 2022” option.
Select the file with your name and CPF. Then choose an easily accessible folder on your computer to save the file. Click “Save”.
Now, open the IRPF 2022 program and locate the “Capital Gains” folder in the menu on the left side of the program screen. Click on it and then select “Import GCAP 2021”.
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Indicate the location where you saved the GCAP 2021 file on your computer and click “OK” to complete the process.
Tax must be paid in the month following the sale of the vehicle
Capital gain tax on the sale of any asset, such as a vehicle, must always be paid by the end of the month following the sale of the asset.
When generating the Darf in the GCAP 2021 program, you will notice that the expiration date corresponds to the last business day of the month following the sale.
If you did not pay the tax on time, you are subject to a daily fine of 0.33%, up to a limit of 20% of the amount due, plus interest proportional to the Selic rate from the month following the due date until the month before the due date. payment plus 1% interest in the month of payment.
In this case, it is useless to take the Darf generated by the GCAP 2021 program to the bank. It is necessary to generate a new Darf with the fine and other charges.
See below how to generate a new Darf with late fees before paying at the bank.
How to update Darf with late penalty and interest
If you have not paid Darf tax on time, please follow the guidelines below.
To calculate interest and fine, use the Sicalcweb program, available on the Federal Revenue website. Enter your CPF and date of birth, click on the box “I’m not a robot” and then click on continue.
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On the next screen, enter the number referring to the tax that has not been paid in the “Revenue code or name” field. You find this number on Darf in arrears. In the case of capital gains tax, the code is “4600”.
Fill in the “Determining period” field with the month and year in which the vehicle was sold, in MM/YYYY format. For example, if the vehicle was sold in March 2021, enter “03/2021”. If it was in April, enter “04 /2021”, and so on.
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Leave the “reference number” field blank. The “due date” field will be filled in automatically by the program after you enter the calculation period. Corresponds to the last working day of the month following the tax calculation month.
Enter the amount of tax that appears in Darf in arrears in the “Principal Amount” field. Click “Calculate”. The program will show the value of Darf with penalty and interest for payment until the end of this month.
To generate the document, click on the “Sel” frame on the left and then click on “Issue Darf”.
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