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Brazil tax on US retirement income

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JLBrasil
1/15/2022 10:48 EST

If an American citizen gains permanent residency in Brazil, one presumably assumes the responsibility to pay Brazilian income tax. My question is if American Social Security and pension income is taxed. If so, it appears that the top marginal tax rate, 27.5 %, is considerably higher than American rates for persons of even modest income. Is my understanding correct? Thanks in advance.

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VovoBillinBrazil
2/8/2022 11:54 EST

You will likely get a few answers here.

USA will reduce your tax burden by the amount you pay in Brazil. Say you pay 10% after deductions etc. in Brazil.

The IRS will calculate their tax "Belief" in what you owe and discount your USA tax burden, by the amount you paid in Brazil. This so you are not double taxed by the USA.

I have seen many different scenarios for tax in Brazil and what you will pay.

Above all. Keep your money in the USA. Open a bank account (after you get a CPF number) and only transfer what you need. What you transfer to a Brazilian Banking account (or add to with a business you open in Brazil) is what you are taxed on.

You should also use a Credit Card for purchases abroad then pay it off monthly. Another way around the import of $$ to Brazil.

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