(Login Bluster2000) Forum Owner Posted Jul 22, 2005 4:41 PM
Hello Keith,
There will be no tax consequences for the person sending the money, but the funds can be treated as income with consequential income tax witholdings for the person who is receiving the moneys, unless you make a donation.
You can legally donate any amount in Brazil. The donation income tax on funds is 4%. The lowest tax bracket in Brazil is 15%, so the tax benefit of donation transfer is more then obvious. I recommend that you consult Brazilian accountant and/or attorney in order to get more specific answers and guide you through the actual procedures.