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Transfer Tax and Donation of Any Assets and Rights.

ITCMD is one of the taxes that are part of real estate transactions. It is important that brokers and real estate agencies are aware of this tax so that they know how to guide their clients. This tax is charge on the transmission “cause mortis” (as a result of death) and donation of any assets or rights. It is the responsibility of the states and the Federal District, and is provide for in the 1988 federal constitution, in art. 155, inc. I and § 1; CTN: articles 35 to 42. As it is a state tax, each state in Brazil approaches it in a different way, with its own collection rules.

Remembering that ITCMD applies not only to real estate

But also to other assets and rights, vehicles, shares, bonds.  It can be charge to both individuals and legal entities, and both will be charged Belgium Telegram Number Data according to the rules and rates of each state. In any case, the rates are calculate base on the market value of the property (or other assets and transfer rights). In this article you will learn more about this tax, the rates, how to calculate it, who the taxpayers are and much more. Check out: Tax on Transfer “Causa Mortis” and Donation of Any Assets or Rights. ITCMD The ITCMD (Tax on Transmission Causa Mortis and Donation), as the name suggests, is applie when there is a transfer of property. Assets and rights as a result of the death of the holder of these assets or when there is a donation (free transfer) of some assets.

This means that it is a tax applie in the case of inheritances or donations.

As we mentione previously, its jurisdiction. lies at the state level and in the Federal District. This means that the rates. Calculations and other Brazil Telegram Number List processes vary according to the state in which the transfer of these assets is taking place. However, it is provide for in the Federal Constitution and the National Tax Code . To better understand the ITCMD, whenever one or more heirs receive some assets as a result of the death of the owner, generally speaking.