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The deadline for submission of the statement of Brazilian investments abroad starts on July 31, referring to the 2nd Quarter of 2022
Investments made outside of Brazil must be declared by individuals or legal entities resident or headquartered in Brazil, annually or quarterly, according to the value of their assets and rights abroad.
Who is required to submit?
The Statement of Brazilian Investments Abroad (DCBE), referring to the 2nd Quarter of 2022, is mandatory for individuals or legal entities resident, domiciled or headquartered in Brazil, including foreign citizens residents in Brazil, who hold assets and rights outside Brazil totalling:
- an amount that is equal to or greater than USD 100,000,000.00, or equivalent in other currencies, on June 30, 2022 – Quarterly CBE (2nd Quarter 2022).
What is the deadline?
- 18h00 on September 5, 2022, for a quarterly statement referring to the base date of June 30, 2022;
Is there a fine?
Non-compliance or inadequate compliance with the obligation subjects the violator to the application of a fine by the Central Bank of Brazil, increasingly active in this area, as follows:
- Making a registration or submitting a statement in disagreement with the deadlines provided for in the respective rules: 1% of the amount subject to registration or statement, limited to BRL 25,000.00;
- Providing incorrect or incomplete information: 2% of the amount subject to registration or statement, limited to BRL 50,000.00;
- Failure to register, failure to submit the statement, or failure to present documentation supporting the information provided to the Central Bank of Brazil:
5% of the amount subject to registration or statement, limited to BRL 125,000.00, or
- Providing false information in a registration or statement: 10% of the amount subject to registration or statement, limited to BRL 250,000.00.
The Tax and Corporate teams of Azevedo Sette Advogados are at your disposal for guidance and clarification of doubts on the subject matter, as well as for assistance with the submission of the DCBE.
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