How to Report Staking Rewards in Brazil: A Complete Tax Guide for Crypto Investors

Understanding Staking Rewards and Brazilian Tax Laws

In Brazil, cryptocurrency staking rewards are classified as taxable income by the Receita Federal (RFB), the country’s federal revenue service. When you earn rewards through staking crypto assets like Ethereum, Cardano, or Solana, you’re generating additional tokens that must be reported annually. Under Normative Instruction RFB No. 1,888/2019, these rewards fall under “rendimentos de aplicações financeiras” (financial investment income) and are subject to progressive income tax rates ranging from 0% to 27.5%. Failure to declare can result in penalties of up to 150% of owed taxes plus interest.

Step-by-Step Guide to Reporting Staking Rewards

Follow this process when filing your annual DIRPF (Declaração de Imposto de Renda Pessoa Física):

1. Track all rewards: Record the date, token amount, and BRL value at receipt for every staking payout using tools like Koinly or CoinTracker.
2. Convert to BRL: Calculate the fair market value in Brazilian Reais at the moment rewards are credited to your wallet (use exchange rates from platforms like Mercado Bitcoin or Binance).
3. Complete DIRPF forms: In the “Rendimentos Sujeitos à Tributação” section, input totals under:
   • Code 20 (Foreign Income) for international platforms
   • Code 06 (Crypto Operations) for Brazilian exchanges
4. Pay monthly DARF: If annual rewards exceed BRL 5 million, submit monthly payments via DARF form with tax code 6015.

Calculating Taxes on Your Staking Earnings

Brazil taxes staking rewards based on your total annual income bracket. Use this formula:

Taxable Value = Quantity of Tokens × BRL Price at Receipt

Example: If you received 1 ETH worth BRL 10,000 on July 15, that’s BRL 10,000 added to your taxable income. The tax rate applied depends on your combined yearly earnings:

• Up to BRL 22,847.76: 0%
• BRL 22,847.77–33,919.80: 7.5%
• BRL 33,919.81–45,012.60: 15%
• BRL 45,012.61–55,976.16: 22.5%
• Above BRL 55,976.16: 27.5%

Essential Documentation and Record-Keeping

Maintain these records for 5 years to comply with RFB requirements:

• Wallet transaction histories showing staking reward deposits
• Screenshots or CSV exports from exchanges/platforms
• BRL conversion records using daily exchange rates
• Receipts for any DARF payments made
• Proof of ownership for staked assets

Tip: Use RFB’s official Programa GCAP to import crypto transaction data directly into your tax software.

Common Reporting Mistakes to Avoid

Steer clear of these critical errors:

1. Delaying conversion to BRL: Using current prices instead of historical rates at receipt overstates/understates income.
2. Ignoring small rewards: All earnings are taxable, even minor amounts under BRL 1,000.
3. Mixing wallet types: Differentiate between custodial (exchange) and non-custodial (private wallet) rewards in documentation.
4. Missing deadlines: DIRPF filings are due by April 30th annually—late submissions incur fines.

Frequently Asked Questions (FAQ)

Do I pay tax if I restake rewards instead of selling?

Yes. Taxation occurs when rewards are credited to your wallet, regardless of whether you sell, hold, or restake them. The BRL value at receipt is what matters.

How does Brazil treat staking from foreign platforms?

Rewards from international platforms (e.g., Coinbase, Kraken) must still be reported. Use Code 20 in DIRPF and convert to BRL using the exchange rate on the reward date.

Are there deductions for staking costs?

No. Unlike mining, Brazil doesn’t allow deductions for electricity, hardware, or platform fees related to staking. Only the net reward value is taxable.

What if I lost money on crypto overall?

Losses from token price declines can offset gains but NOT staking reward income. Report losses separately under “Renda Variável” to reduce capital gains tax.

Can the RFB track my staking rewards?

Yes. Since 2019, Brazilian exchanges must report user transactions monthly. For foreign platforms, the RFB uses international agreements like CRS to access data. Always declare to avoid penalties.

Accurately reporting staking rewards protects you from audits while supporting Brazil’s evolving crypto regulation framework. Consult a contador especializado em criptomoedas for complex cases.