tax threshold
[/tæks ˈθreʃ.oʊld/]
nounpl: tax thresholds
limite de isenção fiscal
1. The minimum level of income or revenue at which an individual or business becomes liable to pay taxes
The tax threshold for single filers was increased to $13,850 for the 2023 tax year.
O limite de isenção fiscal para contribuintes solteiros foi aumentado para R$ 28.559,50 em 2023.
2. The income level below which no taxes are owed to the government
If your income falls below the tax threshold, you may not need to file a tax return.
Se sua renda ficar abaixo do limite de isenção fiscal, você pode não precisar apresentar uma declaração de imposto de renda.
3. A predetermined amount established by tax authorities that determines tax obligation
The government raised the tax threshold to help low-income earners.
O governo elevou o limite de isenção fiscal para ajudar os trabalhadores de baixa renda.
In Brazil, the tax threshold (limite de isenção fiscal) is annually adjusted by the government and is a crucial reference point for millions of taxpayers filing the annual Imposto de Renda (Income Tax) return. The threshold typically increases yearly with inflation. In the United States, similar adjustments occur annually for federal income tax, and the standard deduction serves a similar function to the tax threshold, though terminology differs. Understanding the current year's threshold is essential for determining tax filing requirements in both countries.
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