The period for submission of the Quarterly Information of Brazilian Capital Abroad (Declaração Trimestral de Capitais Brasileiros no Exterior – “Quarterly DCBE”) regarding the base date of June 30, 2021 starts on July 31, 2021 and ends on September 06, 2021 at 6 p.m. The original final date, September 05, 2021, will not be a business day.
The submission of the Quarterly DCBE to the Brazilian Central Bank (“Bacen”) is mandatory for any individual or entity which is resident, domiciled or headquartered in Brazil possessing on June 30, 2021 assets located and/or amounts deposited abroad of any nature, in the minimum amount of US$ 100,000,000.00 (one hundred million U.S. Dollars) or its equivalent in other currencies.
The failure in submitting the Quarterly DCBE, or the provision of uncomplete or incorrect information, may result in a fine up to BLR 250,000.00 (two hundred and fifty thousand reais).
Costa e Tavares Paes Advogados is at your disposal for further clarification regarding the Quarterly DCBE, as well as for other aspects involving the maintenance of assets abroad.
This newsletter is meant for information purposes only and should not be construed as a legal opinion.