2018 Annual Census on Foreign Capital in Brazil – Base Year: 2017

2018 Annual Census on Foreign Capital in Brazil – Base Year: 2017

São Paulo, July 2018

2018 Annual Census on Foreign Capital in Brazil – Base Year: 2017

The term for the filing of the Census on Foreign Capital Invested in Brazil with respect to the 2017 base year began on July 2, 2018. Taxpayers have up to 6 p.m. of August 15, 2018 (Brasília time) to file the form with the Central Bank of Brazil (BACEN).

The Annual Census refers to any year in which the Five-Year Census (years ending in either 0 or 5) does not occur. BACEN treats the information confidentially and filing is mandatory for the following taxpayers:

(i) Legal entities domiciled in Brazil, with non-residents holding direct interest in the capital thereof, in any amount, and with NAV equal to or in excess of one hundred million dollars (USD 100,000,000.00);

(ii) Investment funds with non-resident shareholders and NAV equal to or in excess of one hundred million dollars (USD 100,000,000.00); and

(iii) Legal entities domiciled in Brazil, with total outstanding balance of short-term negotiable instruments (enforceable within 360 days), granted by non-residents, in amount equal to or in excess of ten million dollars (USD 10,000,000.00).

The following persons do not have to file the relevant form:

(i) Individuals;

(ii) Direct management agencies of the Federal Government, States, Federal District and Cities/Municipalities;

(iii)Legal entities debtors of foreign credit transfers, granted by institutions headquartered in Brazil; and

(iv)Non-profit entities, maintained by contributions made by non-residents.

False, incomplete or inaccurate information, or any forms filed in delay and in violation of the conditions provided for by law may result in penalties ranging from BRL 25,000.00 to BRL 250,000.00.

Our team of specialists is ready to assist you – please feel free to contact us at paralegal@abordin.com.br

Best regards,

Anderson Santos

2018-07-27T16:50:22+00:00 Insider|