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Could Pix be taxed? Learn about the Central Bank's rules, the situations in which Pix may be charged, and how to avoid unwanted charges.
O Pix arrived to revolutionize the way we make our financial transactions. Since it was launched in 2020 by central bank, it quickly became popular among Brazilians due to its practicality, speed and security. Nowadays, it is almost impossible to find someone who has not used Pix to transfer money or pay a bill. However, with its popularity came a new concern: Pix taxation. Could this payment method, which has gained so many followers, end up becoming more expensive? Let's understand what is myth and what is truth about this subject!
What is Pix and why is it so successful?
Before we dive into the questions about the Pix taxation, it's worth remembering why it has become so popular. Pix allows you to make payments or transfers at any time of day, instantly. It doesn't matter if it's the middle of the night, the weekend, or a holiday; the money is deposited into your account in seconds! In addition, you can use it to pay bills, schedule future transactions, and even withdraw money at commercial establishments.
With so many facilities, it is no surprise that this tool has become part of the daily lives of Brazilians. But it is precisely because it is so essential that many have begun to worry about the possibility of a Pix taxation.
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The dreaded Pix taxation: What does the Central Bank say?
The idea that Pix could be taxed has generated a lot of discussion and concern, especially on social media, where rumors about a possible charge in 2024 have been circulating strongly. But, after all, is there any truth to this?
According to central bank, which is the body responsible for regulating Pix, there is no provision for charging rates for individuals in general. The president of the Central Bank himself, Roberto Campos Neto, stated last year, during a hearing in the Federal Senate, that Pix taxation for individuals “it won’t happen”. The current rules remain unchanged, and there are no plans for change on the horizon.
When can Pix be taxed?
Despite the tranquility experienced by central bank, there are some situations in which transactions via Pix may, in fact, be charged. These exceptions are provided for in BCB Resolution No. 19/2020 and mainly affect legal entities, but may also impact individual microentrepreneurs (MEIs) and individual business owners.
For individuals, MEIs and individual entrepreneurs
If you fall into any of these categories, be aware of the following situations where there may be a fee about using this payment method:
- Use of alternative channels: If you have the option of carrying out the transaction directly via Pix, but opt for other channels, such as telephone or in-person service, a fee may be charged.
- Pix for commercial purposes: If you receive payments via Pix for commercial purposes, there may be a charge.
- More than 30 monthly Pix: If you exceed the limit of 30 Pix transactions per month, you may also be charged.
- Dynamic QR Code: If you receive payments using a dynamic QR Code or from a legal entity payer, there may be a fee.
For legal entities
Companies are also subject to Pix taxation in some specific situations:
- Payments to individuals: If a company uses Pix to pay an individual by providing account details or a key, there may be a charge.
- Payments to legal entities: The same goes for payments between companies, whether via account or Pix key.
- Receipt via QR Code: If the company receives payments via QR Code, whether from individuals or legal entities, it may be subject to charges.
Not all banks charge a fee
Now that you know that there are some situations in which the Pix taxation may occur, the question remains: do all banks charge this fee?
The answer is no. Brazilian Federation of Banks (They febraban) clarifies that charging fees for companies is a decision that is up to each financial institution. In other words, it is not mandatory for all banks to charge for the use of Pix. Some financial institutions choose not to charge anything, while others may charge fees ranging from 0,99% to 1,45% of the transaction value, with a minimum of R$1 and a maximum of R$10.
If you have a company or are an MEI, it is recommended that you contact your bank or fintech to understand exactly how the Pix fee collection policy works. This way, you can avoid unpleasant surprises at the end of the month.
Is taxation a reality?
Even with the explanations of the central bank and clear rules about when Pix taxation may happen, many people still wonder if, in the future, Pix could become a paid service for everyone. For now, the BC guarantees that there is no such intention, especially for individuals. The idea is to keep Pix as a free and accessible service, which continues to make the lives of Brazilians easier.
However, it is always good to keep an eye on the news and announcements from central bank. The economy is dynamic and, although taxation is not in the plans now, there is nothing to prevent discussions on the topic from arising in the future, especially as Pix continues to grow and consolidate itself as the main payment method in Brazil.
Stay alert, but don't worry too much
Pix is here to stay and, at least for now, Pix taxation for individuals should not happen. The central bank ensures that the rules remain the same and that most users do not need to worry about additional charges.
However, if you are a MEI, individual entrepreneur or legal entity, it is a good idea to be aware of the exceptions provided for in the Pix rules. And remember: the best way to avoid surprises is to always check with your bank or fintech about billing policies.
Pix continues to be an incredible tool to facilitate our daily transactions, and with a little attention, you can continue using this service without any surprises!
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