ReVar is a new Brazilian Internal Revenue Service tool to facilitate the calculation of Income Tax and the generation of the Tax Collection Document (DARF).
With the consent of interested users and through its Investor Area, B3 will provide information on Positions, Transfers, Trades, Earnings and Brokerage Fees for the correct functioning of the ReVar calculation tool.
For Financial Institutions, participants and brokerage houses using SINACOR, communication will take place through an existing module that does not require additional action. For those not using SINACOR, they will need to build a connection with APIs that will be made available.
Sign up and follow up the project
With only a few clicks, investors may authorize sending their investment data to ReVar. Then they validate their assets’ initial price and their position will be calculated on a monthly basis.
The integration with ReVar is a key step for investors to remain in good standing with the Brazilian IRS. Paying taxes will never again be an obstacle on their investment journey.
Once B3 Investor Area is integrated with ReVar, calculations will be performed automatically by the ReVar tool allowing the Tax Collection Document (DARF) to be issued for payment.
B3 will share investment data with ReVar (subject to user authorization), so that the tool is provided with safe inputs to make calculations and facilitate the accurate calculation of trade results.
The ReVar calculation tool gives investors the confidence that tax calculations will be carried out by the Brazilian Internal Revenue Service, thus simplifying the process and providing peace of mind and reliability to individual investors.
ReVar is a calculation tool that runs within the RFB - Brazilian Internal Revenue Service system (e-CAC Portal) for access by Individual Investors where they can manage data on their Equities transactions.
Among other features, the tool will allow the validation of the information captured by APIs, insertion of the assets’ initial average price, monthly control of the calculations, issuance and payment of DARF (Tax Collection Document), when there is tax to pay.
The exchange of information will be done in a secure manner between B3, the Brazilian IRS, Brokerage Houses and Financial Institutions via the API communication structure.
For this exchange of information to occur, B3 built a set of APIs that will communicate directly with the Brazilian Internal Revenue Service and also a specific set to capture brokerage fee data with Financial Institutions, Participants and Brokerage Houses.
Based on the information sent to the Internal Revenue Service, investors can calculate the result of their Equities transactions on ReVar (available on the e-CAC Portal), allowing them to issue a DARF (Tax Collection Document) when a tax payment is due.
The ReVar project is carried out within the context of Normative Instruction RFB No. 2033, date June 24, 2021, and is structured into the following phases:
1 - B3, Brazilian Internal Revenue Service and SINACOR validate the API structure and development;
2 - B3, Brazilian Internal Revenue Service and SINACOR perform tests for consumption, integrity and performance of the APIs;
3 – B3 talks with market participants and financial institutions to explain the structure and consumption of APIs and how brokerage fee data will be captured for users who use SINACOR and those who don´t;
4.1 - Participants and Financial Institutions using SINACOR perform validation tests;
4.2 - Participants and Financial Institutions not using SINACOR create their connections with B3's API structure to carry out validation tests;
5 - Internal Revenue Service tests with the creation of specific scenarios;
6 - Webinar with the Market;
7 - Publication of a new Normative Instruction by the Brazilian IRS;
8 – Communications via the B3 and Internal Revenue Service channels; and
9 - Entry into production.
Note: The ReVar tool will be implemented in two phases
The first phase or version of the ReVar calculation tool – covering only Spot Market transactions, including Rights and Receipts – is scheduled to go live in 4Q23.
The second phase includes the treatment of Derivatives and Loans.
03/15/2023
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10/31/2023
End of Certification
11/01/2023
Alfa Testes - Availability for the market, but visibility for a small group of individual investors delimited by the RFB.
01/02/2024
Official launch - Beta phase - Mandatory for the market, but controlled visibility for a larger-scale group of individual investors delimited by the RFB.
04/01/2024
Mandatory for the market, end of the Beta testing period and general opening for all private investors
Catalog changes
No catalog changes
Main systems
Investor area and SINACOR.
Main related functions
No related functions.
Certification roadmap
No impact
What is the Sinacor version?
v22.2
