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The income statement is a document that shows how much someone received in monetary values ​​during the previous calendar year. The report is essential to ensure accuracy in declaring Income Tax and calculating the tax payable or refundable.

The statement can show salaries, pensions, bonuses, any income from a financial investment, etc.

Some of your income is displayed in its original currencies, but you’ll need to convert it to BRL when declaring your taxes. To make the conversion, use the exchange rate from the last business day of the year, which you can find on the Central Bank website.

Our income statement will show the different products that you have to declare, and its balances, by 31 of December of the relevant two previous years. Each product will display a group and a code for you to know in which section to declare each product.

Revolut does not provide tax advice. If you need further assistance on how to use the income statement to declare your income, please contact a professional accountant.