New court ruling orders heirs in Brazil to pay income tax on gains from sale of real estate

The decision has been issued by the 4th Federal Regional Court of Appeals in Porto Alegre, RS.

RIO DE JANEIRO, BRAZIL - A Uruguayan family that inherited a property of more than 2,000 hectares in Santana do Livramento (Rio Grande do Sul state) and sells the property will have to pay income tax (IR) on the capital gain and not on the partial sales values, as requested in court.

The 4th Regional Federal Court of Appeals, based in Porto Alegre, granted an appeal by the federal government, rejecting an injunction obtained by the heirs in the lower court.

The heirs filed the lawsuit early last year. They sought a court order that the IRS not impose income . . .

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