As provided in article 11 of the Real Estate Income Tax (IP) Code, taxpayers that own rented property should submit, during January, near the Tax Office were the real estate is located, a return declaring the rents agreed and effectively received during last year. It should be submitted a return for each property. Together with the return should also be filed the stamped rental contract, if the same was not yet submitted under the rules of the referred article 11, as well as the proof that the tax withheld by the landlord was duly paid, when applicable.

As for the assessment and payment of this tax, the following should be attended:

i. As for not rented property, the assessment and payment should be done near the Tax Office until the last working day of March, referring to the last year. Under taxpayer’s request, the tax can be paid in six consecutive installments

ii. As for rented property, if the tenant is liable to have accounting, the same is liable to assess the tax at the payment of the rent (withholding tax) and pay it until the end of the following month

iii. In the remaining cases, when the tenant is not liable to have accounting, the tax is assessed and paid by the landlord on the rents received on the previous year until the last working day of March.