REIT Capital Gains Tax
Calculates 20% income tax on capital gains from selling Brazilian REIT shares.
—
Income tax on Brazilian REITs (FIIs)
In Brazil, FII dividends paid to individuals come tax-free (Law 11.033/2004, art. 3, III), as long as the fund has at least 50 shareholders, trades on B3, and you hold under 10% of it. That exemption is on the table in the 2025–2026 tax reform, where rates of 5% to 15% have been floated. Capital gains on selling shares are a different story: they always pay a flat 20% on profit, and the R$ 20,000/month break that covers stocks does nothing for FIIs. So if you buy 50 shares at R$ 100 and sell at R$ 115, that's R$ 750 of profit and R$ 150 in tax, paid via DARF code 6015 by the last business day of the following month.
Applications
Used to compute monthly DARF for FII share sales, plan tax-loss harvesting (FII losses can only offset FII gains — never stocks or ETFs — and carry forward indefinitely), and prepare the annual IRPF return where dividends go under "Rendimentos Isentos" code 26 and capital gains are reported in the GCAP program before being imported.
FAQ
Does the R$ 20,000 monthly exemption apply? No. That rule is specific to stocks (ações). Every FII sale at a profit triggers 20% IR, regardless of amount.
Can I offset losses against stock gains? No. FII losses only offset FII gains, in the same month or carried forward indefinitely until consumed.
When is the DARF due? By the last business day of the month following the sale, with code 6015. Late payment accrues Selic interest plus a 0.33%/day fine capped at 20%.
Will the dividend exemption end? Possibly. Multiple bills in 2025–2026 proposed taxing FII dividends. Until enacted, the exemption holds — but model long-term plans with a margin of safety.
Related Tools
REIT Dividend Yield
Calculates annualized dividend yield of a Brazilian REIT from monthly distribution and share price.
FII Cap Rate Calculator
Computes annualized cap rate of a Brazilian REIT (FII) dividing annual net operating income (NOI) by the portfolio asset value.
Brazilian Rental Income Tax (Individual)
Compute Brazilian rental income tax for individuals using progressive monthly table.
Black-76 Put Price (Options on Futures)
Works out the premium of a European put option on futures with the Black-76 model, the Black-Scholes version for when the underlying is a future or forward contract. The price is e^(−rT)·[K·N(−d2) − F·N(−d1)], where d1 and d2 come from the futures price, the strike, the volatility and the term. The future already carries the cost of carry, so the discount factor multiplies both terms and interest does not enter d1. It applies to puts on commodities, indices and rates. Enter the futures price, the strike, the risk-free rate, the term in years and the annual volatility.
Capital Gains Yield
Computes the capital gains yield of an asset: the percentage price appreciation between the start and end of the period, (P1 − P0)/P0. It's the part of the total return that comes from the price change, not counting dividends — added to the dividend yield, it gives the stock's total return. It serves to separate how much of the gain came from appreciation and how much from income. Enter the starting price and the ending price.
FII (REIT) Yield Calculator
Compute monthly and annualized yield of a Real Estate Fund (FII): cota price × monthly dividend. Shows return vs CDI.
The results provided by this tool are for general informational and educational purposes only and do not constitute professional, financial, medical, legal, tax or accounting advice. Always confirm important decisions with a qualified professional and official sources.