We hereby inform that the Brazilian Central Bank (Bacen), on an extraordinary basis motivated by the Covid-19 pandemic effects, issued on March 24th, 2020 the circular No. 3995, postponing to June 1st, 2020 the deadline for the submission of the Annual Information of Brazilian Capital Abroad (Declaração Anual de Capitais Brasileiros no Exterior – DCBE) regarding the fiscal year ended on December 31, 2019, which replaces the ordinary deadline on April 5th, 2020.
As per our previous newsletter regarding DCBE, any individual or entity which is resident, domiciled or headquartered in Brazil (as defined in the Brazilian tax legislation) must provide information on an annual basis to Bacen in case such individual or entity possesses assets located and/or amounts deposited abroad with a total value equal or greater than US$ 100,000.00 (one hundred thousand U.S. Dollars), or its equivalent in other currencies.
In addition, the persons mentioned above must provide information on a quarterly basis to Bacen in the event their assets and amounts held abroad are equivalent to or greater than US$ 100,000,000.00 (one hundred million U.S. Dollars), or its equivalent in other currencies, on the dates indicated below. The base dates and reporting periods are:
• Information referring to the base date of December 31st, 2019: 12/Feb/2020 to 01/Jun/2020, as extended;
• Information referring to the base date of March 31st, 2020: 30/Apr/2020 to 5/Jun/2020;
• Information referring to the base date of June 30th, 2020: 31/Jul/2020 to 05/Sep/2020;
• Information referring to the base date of September 30th, 2020: 31/Oct/2020 to 05/Dec/2020.
Costa e Tavares Paes Advogados is at your disposal for further clarification regarding any obligations before the Central Bank of Brazil, as well as on other aspects involving the maintenance of assets abroad.