Banco Central (Central Bank) has specific regulations for Brazilian companies with foreign participation in the share capital and for individuals or legal entities who held assets abroad until December 31, 2021. The deadline for financial statement returns is March 31.
It is important to point out that statement returns with errors, vices or even not submitted will result in penalties charged by the Central Bank.
To support the companies, RONALDO MARTINS & Associados Attorneys at Law relies on a dedicated team, commanded by the Head of International Taxation and Wealth Planning Strategies, Rodrigo Martins, to render services and to expedite To support the companies, the office RONALDO MARTINS & Associados is with a dedicated team, commanded by the Head of International Taxation and Wealth Planning Strategies, Rodrigo Martins, to provide the service and to expedite analysis.
The following is the information for the statements and documents required for analysis.
See the return applicability and obligation:
- Quarterly Economic and Financial Statement (DEF) or RDE-FDI Yearly Update, pursuant to Memorandum 3,689/2013:
- Presentation of the Quarterly Economic and Financial Statement (DEF): for Brazilian companies receiving foreign direct investment with equity or total assets EQUAL TO OR OVER R$ 250,000,000.00
Or
- Yearly update of the Quarterly Economic and Financial Statement (DEF): for Brazilian companies receiving foreign direct investment with equity or total assets EQUAL TO OR OVER R$ 250,000,000.00
Due date for the submission of the DEF Statement or for annual update of the RDE-IED: 03/31/2022.
- Yearly Statement of Brazilian Capital Abroad (DCBE), year 2022 (base year 2021), in accordance with Resolution 3,854 of 05/27/2010 and Memorandum 3,624, February: for individuals or legal entities resident, domiciled or based in the country who, on 12.31.2021, held assets (assets and rights) * abroad or of non-Brazilian residents in an amount EQUAL to or OVER US$ 1,000,000.00 (one million U.S. dollars);
Due date for the submission of CBE Yearly Statement: 04/05/2022.
*Assets abroad comprehend amounts of any nature, assets in currency, assets and rights of non-residents.
| 3. Quarterly Statement (CBE – DCBE) – Individuals or Legal Entities: Whoever holds an asset abroad with a total value OF OVER US$ 100,000,000.00 (ONE HUNDRED MILLION DOLLARS), in addition to being obliged to the annual statement of the mentioned period, are obliged to the quarterly statements, according to the periods below: |
| Due date for the submission of CBE Quarterly Statement is:
I – Quarterly statement for the base date of March 31: From 04/31/2022 to 06/05/2022; |
| II – Quarterly statement for the base date of June 30: From 07/31/2022 to 09/05/2022; |
| II – Quarterly statement for the base date of September 30: From 10/31/2022 to 12/05/2022; |
Documents to expedite analysis:
– Balance Sheet and D.R.E. for the accounting year ended December 31, 2021;
– Copy (pdf file) of the updated company’s articles of incorporation;
NOTES: If balance sheet is not yet closed, please present the previous balance/draft.
In the case of statements contained in items 2 and 3 above, we request:
For the Statement of Brazilian Capital Abroad (DCBE), for the analysis we request the presentation of:
– Bank statement of December/2021 containing the balance as of December 31, 2021 in the case of financial assets only;
– List of other non-financial assets (assets and rights) held abroad for evaluation and definition of supporting documentation;
– In the case of equity interests, Balance Sheet / Financial Statements of the invested Companies are requested and if they are not obliged to prepare in the jurisdictions in which they are incorporated, the bank statements of December/2021 of all accounts held by the companies in order to determine the Market Value or Shareholders’ Equity of these as assets held abroad.
– In the case of Commercial Credits, they include financing granted directly between exporter and importer for the acquisition of goods or services in foreign trade transactions.
– Assets, in the commercial credit modality, can be constituted in two ways:
– Importer resident in Brazil makes payment to the non-resident exporter, who undertakes to deliver the goods or services (import advance) in the future. It implies the outflow of financial resources from the country and is an external asset receivable in goods or services;
– Exporter resident in Brazil makes payment to the non-resident importer, who undertakes to make payment due (receiving exports). It does not implies the outflow of financial resources from the country and is an external asset receivable in currency.
– Commercial credit assets must be declared when the mismatch between financial resources and delivery of the goods or service is equal to or over 30 days. Term operations between 0 and 29 days are considered cash payments and are exempt from declaration.
