ReVaR – Completion of the Project
ReVaR – Completion of the Project
The ReVar tool connects B3 data to the Brazilian Internal Revenue Service and can help investors overcome difficulties when trading on the exchange
To make life easier for investors when declaring their income tax, the Brazilian Internal Revenue Service created ReVar (Auxiliary Software for Calculation of Personal Income Tax), which calculates tax on equity investments. The project was developed in partnership with B3, which provided support to the software specifications and tests.
In its first version, ReVar is available for the spot market and for individual investors who do not hold positions or trade other financial assets, securities lending, futures, forward or options markets.
The main advantage of ReVar is the secure integration of the databases of B3, the Brazilian Internal Revenue Service, brokerage houses and financial institutions, which is carried out via APIs (Application Programming Interface). The provision of consolidated data on the investor's tax life through ReVar not only contributes to the market’s development, but also overcomes barriers and difficulties encountered by many investors when trading on B3.
With only a few clicks, the investor authorizes access to their data through ReVar, which can be filled in automatically when submitting their income tax returns. It can also calculate the return on their equity investments on a monthly basis and issue the Internal Revenue Collection Document (DARF), when necessary.
Therefore, ReVar facilitates the calculation of return on trades, offers greater security regarding the calculation of due tax and helps investors to always be up to date with the Internal Revenue Service. The ReVar tool is expected to be available to B3 investors as of August 2024 through the Brazilian Internal Revenue Service's e-CAC portal.
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