deadline for declaration of Brazilian capital abroad (CBE) is approaching

Brazilians - Individuals or legal entities - residents and domiciled or headquartered in Brazil who hold assets allocated abroad totaling US $ 1,000,000.00 (one million dollars) to US $ 100,000,000.00 (one hundred million dollars) or equivalent in other currencies, are required to issue the annual Brazilian state capital (CBE), due to legislation of the Central Bank of Brazil. The deadline for the annual declaration for the base date of December 31, 2023 starts on February 15, 2024, and taxpayers have until April 5, 2024 to send it.

In turn, those who have capital abroad of US $ 100,000,000.00 (one hundred million dollars) or more should submit the statement quarterly, and the first period, with a base date of March 31 starts on April 30, 2024 and ends on June 5 of the same year.

For the purposes of the declaration, the following assets are considered as active: currency loan; investment in portfolio; direct investment; deposits; financing; Application in derivative financial instruments; and other investments, including real estate and other goods.

Penalties for the non -declaration of CBE

The lack of delivery of the CBE declaration, the delay or inclusion of incorrect, false and/or incomplete information results in fines that can range from R $ 2,500.00 (two thousand and five hundred reais) to R $ 250,000, 00 (two hundred and fifty thousand), with the possibility of being increased by up to 50%, depending on the case.

Manoela Bernardes, corporate lawyer at Carpena Advogados